Knife River Corporation $KNF Stake Boosted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its position in Knife River Corporation by 32.1% in Q1, now holding approximately 1.07% of the company worth $54.6 million.
• Wall Street analysts are optimistic, with a majority giving the stock a Buy rating and an average target price of $114.33.
• Knife River reported $0.89 EPS for its last quarter, missing estimates, and set FY 2025 guidance with predicted EPS of 4.11.

Ameriprise Financial Inc. boosted its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 605,274 shares of the company's stock after acquiring an additional 146,987 shares during the quarter. Ameriprise Financial Inc. owned about 1.07% of Knife River worth $54,604,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in shares of Knife River in the 1st quarter worth approximately $26,000. Brooklyn Investment Group grew its position in Knife River by 31,200.0% in the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after buying an additional 312 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Knife River by 501.9% in the first quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after buying an additional 271 shares in the last quarter. State of Wyoming acquired a new stake in shares of Knife River during the 4th quarter valued at $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Knife River during the 1st quarter valued at $35,000. Institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of recent research reports. DA Davidson decreased their target price on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Wells Fargo & Company increased their price target on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada assumed coverage on Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $114.33.

Knife River Stock Down 1.1%

NYSE:KNF traded down $0.93 during trading hours on Tuesday, hitting $80.07. 679,927 shares of the company's stock traded hands, compared to its average volume of 706,789. The stock's fifty day moving average price is $83.69 and its two-hundred day moving average price is $89.16. The firm has a market cap of $4.54 billion, a P/E ratio of 29.77, a P/E/G ratio of 5.90 and a beta of 0.62. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. Knife River Corporation has a twelve month low of $73.91 and a twelve month high of $108.83.

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

Knife River Company 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.