Hsbc Holdings PLC Lowers Position in Knife River Corporation $KNF

Key Points

• Hsbc Holdings PLC significantly reduced its stake in Knife River Corporation, selling 59,207 shares and owning only 2,435 shares by the end of the first quarter.
• Knife River reported earnings per share of $0.89, which missed expectations by $0.38, along with quarterly revenue of $833.80 million, below the analyst estimates of $902.26 million.
• Brokerages have varied ratings and target price adjustments for Knife River, with Wells Fargo increasing its target from $96.00 to $97.00 and maintaining an "overweight" rating.

Hsbc Holdings PLC lessened its stake in Knife River Corporation (NYSE:KNF - Free Report) by 96.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,435 shares of the company's stock after selling 59,207 shares during the period. Hsbc Holdings PLC's holdings in Knife River were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp grew its stake in Knife River by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company's stock worth $60,000 after buying an additional 106 shares in the last quarter. Greenleaf Trust grew its stake in Knife River by 6.7% in the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company's stock worth $232,000 after buying an additional 162 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Knife River by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock worth $598,000 after acquiring an additional 175 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Knife River by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock valued at $1,434,000 after purchasing an additional 200 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Knife River by 8.3% in the 1st quarter. Independent Advisor Alliance now owns 2,816 shares of the company's stock valued at $254,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Trading Down 0.5%

KNF traded down $0.39 during midday trading on Monday, reaching $79.98. 551,886 shares of the company's stock traded hands, compared to its average volume of 637,378. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 5.86 and a beta of 0.63. Knife River Corporation has a 52 week low of $74.50 and a 52 week high of $108.83. The firm has a fifty day moving average of $83.46 and a two-hundred day moving average of $88.47. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business had revenue of $833.80 million for the quarter, compared to analysts' expectations of $902.26 million. During the same period last year, the firm posted $1.37 earnings per share. Knife River's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. DA Davidson cut their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Finally, Royal Bank Of Canada assumed coverage on shares of Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $114.33.

Knife River Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.