MIG Capital LLC Sells 175,325 Shares of Knife River Corporation $KNF

Key Points

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MIG Capital LLC cut its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 31.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,838 shares of the company's stock after selling 175,325 shares during the period. Knife River makes up 4.3% of MIG Capital LLC's investment portfolio, making the stock its 12th biggest holding. MIG Capital LLC owned 0.68% of Knife River worth $34,806,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KNF. Envestnet Asset Management Inc. boosted its holdings in Knife River by 12.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,236 shares of the company's stock worth $3,886,000 after purchasing an additional 4,205 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Knife River in the fourth quarter worth $14,600,000. Mariner LLC boosted its holdings in Knife River by 92.9% in the fourth quarter. Mariner LLC now owns 6,766 shares of the company's stock worth $688,000 after purchasing an additional 3,258 shares in the last quarter. XTX Topco Ltd bought a new stake in Knife River in the fourth quarter worth $331,000. Finally, Guggenheim Capital LLC bought a new stake in Knife River in the fourth quarter worth $633,000. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

KNF stock traded up $4.27 during mid-day trading on Friday, reaching $91.95. 675,517 shares of the stock traded hands, compared to its average volume of 760,090. 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 Corporation has a 52 week low of $73.91 and a 52 week high of $108.83. The business has a 50-day moving average of $83.24 and a two-hundred day moving average of $89.91. The firm has a market capitalization of $5.21 billion, a PE ratio of 34.18, a P/E/G ratio of 6.69 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $902.26 million. During the same quarter last year, the company earned $1.37 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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