Northern Trust Corp Decreases Holdings in Knife River Corporation $KNF

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 decreased its position in Knife River Corporation (NYSE:KNF - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,217 shares of the company's stock after selling 19,300 shares during the period. Northern Trust Corp owned approximately 1.29% of Knife River worth $65,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KNF. Mariner LLC raised its stake in Knife River by 92.9% in the 4th quarter. Mariner LLC now owns 6,766 shares of the company's stock worth $688,000 after acquiring an additional 3,258 shares during the last quarter. Stifel Financial Corp raised its stake in Knife River by 1.7% in the 4th quarter. Stifel Financial Corp now owns 45,254 shares of the company's stock worth $4,600,000 after acquiring an additional 759 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Knife River in the 4th quarter worth $6,292,000. Pinebridge Investments L.P. raised its stake in Knife River by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 20,455 shares of the company's stock worth $2,079,000 after acquiring an additional 6,119 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Knife River by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,287 shares of the company's stock worth $3,994,000 after acquiring an additional 6,022 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Stock Performance

KNF traded up $0.19 on Friday, reaching $81.08. The stock had a trading volume of 795,625 shares, compared to its average volume of 755,209. Knife River Corporation has a 12-month low of $73.91 and a 12-month high of $108.83. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The business's 50-day moving average price is $83.78 and its two-hundred day moving average price is $89.37. The company has a market cap of $4.59 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 5.90 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $902.26 million. During the same period in the previous year, the firm posted $1.37 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on KNF. Wells Fargo & Company upped their price target on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Royal Bank Of Canada began coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Finally, DA Davidson lowered 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. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $114.33.

About Knife River

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.