Nuveen LLC Buys Shares of 427,014 Knife River Corporation $KNF

Key Points

• Nuveen LLC invested approximately $38.52 million in Knife River Corporation, acquiring 427,014 shares, representing about 0.75% of the company.
• Knife River reported a missed earnings estimate with $0.89 EPS for the quarter, falling short of the consensus estimate of $1.27, despite a year-over-year revenue increase of 3.3%.
• Brokerage ratings reflect a generally positive outlook, with a consensus rating of "Buy" and an average price target of $114.33 for Knife River shares.

Nuveen LLC purchased a new position in Knife River Corporation (NYSE:KNF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 427,014 shares of the company's stock, valued at approximately $38,521,000. Nuveen LLC owned approximately 0.75% of Knife River as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KNF. Invesco Ltd. grew its position in shares of Knife River by 40.6% in the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock valued at $111,583,000 after purchasing an additional 357,133 shares during the period. Simplex Trading LLC acquired a new stake in Knife River in the 1st quarter worth about $222,000. Townsquare Capital LLC boosted its holdings in Knife River by 12.7% in the 1st quarter. Townsquare Capital LLC now owns 37,062 shares of the company's stock worth $3,343,000 after buying an additional 4,166 shares during the last quarter. Swiss National Bank increased its stake in Knife River by 3.7% during the 1st quarter. Swiss National Bank now owns 109,698 shares of the company's stock worth $9,896,000 after buying an additional 3,900 shares in the last quarter. Finally, Headland Capital LLC acquired a new position in shares of Knife River during the first quarter valued at approximately $5,106,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNF has been the topic of a number of research analyst reports. DA Davidson lowered their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Wells Fargo & Company raised their price objective on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Monday, August 11th. 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 target price on the stock. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Knife River has a consensus rating of "Buy" and an average target price of $114.33.

Knife River Trading Down 3.2%

Shares of KNF traded down $2.8590 during midday trading on Wednesday, reaching $86.4710. The company had a trading volume of 144,215 shares, compared to its average volume of 558,487. Knife River Corporation has a 1-year low of $73.91 and a 1-year high of $108.83. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The firm has a 50 day simple moving average of $82.91 and a 200-day simple moving average of $90.30. The stock has a market cap of $4.90 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 6.37 and a beta of 0.63.

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 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 prior year, the company posted $1.37 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. Research analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Knife River 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.