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

Key Points

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MIG Capital LLC lessened its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 31.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 385,838 shares of the company's stock after selling 175,325 shares during the quarter. Knife River accounts for 4.3% of MIG Capital LLC's portfolio, making the stock its 12th biggest holding. MIG Capital LLC owned 0.68% of Knife River worth $34,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its position in Knife River by 45.2% during the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after acquiring an additional 603,170 shares during the last quarter. Invesco Ltd. increased its position in Knife River by 40.6% in the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock worth $111,583,000 after buying an additional 357,133 shares in the last quarter. American Century Companies Inc. increased its position in Knife River by 19.7% in the first quarter. American Century Companies Inc. now owns 1,062,743 shares of the company's stock worth $95,870,000 after buying an additional 175,063 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Knife River by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock worth $105,121,000 after buying an additional 17,234 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in Knife River by 3.7% in the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock worth $99,934,000 after buying an additional 34,747 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target for the company. Wells Fargo & Company lifted their target price on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Finally, DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Knife River has an average rating of "Buy" and an average price target of $114.33.

Knife River Price Performance

Shares of KNF stock traded up $4.27 on Friday, reaching $91.95. The company's stock had a trading volume of 675,517 shares, compared to its average volume of 558,938. The stock's fifty day simple moving average is $83.24 and its 200-day simple moving average is $90.10. Knife River Corporation has a 1 year low of $73.91 and a 1 year 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 company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 6.32 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results 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). The business had revenue of $833.80 million during 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 for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. Analysts forecast 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.