Knife River Corporation $KNF Stock Position Increased 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. grew its position in Knife River Corporation (NYSE:KNF - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 605,274 shares of the company's stock after purchasing an additional 146,987 shares during the period. Ameriprise Financial Inc. owned approximately 1.07% of Knife River worth $54,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Mariner LLC grew its holdings 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 buying an additional 3,258 shares in the last quarter. Stifel Financial Corp boosted its position in Knife River by 1.7% during 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 period. Price T Rowe Associates Inc. MD grew its stake in shares of Knife River by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,287 shares of the company's stock worth $3,994,000 after purchasing an additional 6,022 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Knife River by 13.7% during the fourth quarter. Northern Trust Corp now owns 750,517 shares of the company's stock valued at $76,283,000 after purchasing an additional 90,450 shares during the period. Finally, Gallo Partners LP acquired a new position in shares of Knife River during the fourth quarter valued at $2,752,000. Institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

KNF has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. DA Davidson reduced their price target 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 initiated coverage on shares of Knife River in a research note 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, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $114.33.

Knife River Price Performance

Shares of Knife River stock opened at $82.72 on Thursday. Knife River Corporation has a 52 week low of $73.91 and a 52 week 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 stock has a market cap of $4.69 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 6.57 and a beta of 0.63. The company's 50-day moving average price is $83.67 and its two-hundred day moving average price is $89.78.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.58% and a net margin of 5.20%.The business had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. During the same period in the prior year, the firm earned $1.37 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Knife River Corporation will post 4.11 EPS 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.

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