Knife River Corporation $KNF Position Trimmed by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Knife River Corporation by 2.6%, selling 19,300 shares and holding 731,217 shares, valued at approximately $65.96 million.
• Several institutional investors, including Opal Wealth Advisors and Brooklyn Investment Group, have recently adjusted their positions in Knife River, reflecting a significant activity among hedge funds.
• Knife River reported a quarterly EPS of $0.89, missing estimates, with revenue of $833.80 million, up 3.3% from the previous year, leading to a current price target consensus of $114.33.

Northern Trust Corp trimmed its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 731,217 shares of the company's stock after selling 19,300 shares during the period. Northern Trust Corp owned about 1.29% of Knife River worth $65,963,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Knife River in the 1st quarter worth approximately $26,000. Brooklyn Investment Group grew its stake in Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after acquiring an additional 312 shares during the period. Versant Capital Management Inc grew its stake in Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after acquiring an additional 271 shares during the period. State of Wyoming purchased a new stake in Knife River in the 4th quarter worth approximately $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Knife River in the 1st quarter worth approximately $35,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on KNF. DA Davidson decreased their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $114.33.

Knife River Stock Performance

NYSE KNF traded down $1.86 on Thursday, hitting $80.90. The stock had a trading volume of 1,129,714 shares, compared to its average volume of 743,718. Knife River Corporation has a one year low of $73.91 and a one year high of $108.83. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 6.03 and a beta of 0.63. The company's 50-day moving average is $83.71 and its two-hundred day moving average is $89.64. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly 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 firm had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same quarter last year, the business posted $1.37 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. On average, analysts expect that Knife River Corporation will post 4.11 earnings per share for the current year.

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.