Price T Rowe Associates Inc. MD Grows Holdings in Knife River Corporation $KNF

Key Points

• Price T Rowe Associates Inc. MD significantly increased its stake in Knife River Corporation by purchasing 1,628,535 shares, a 4,145.2% increase, bringing their total ownership to approximately 1.67 million shares valued at $150.46 million.
• Analysts have a positive outlook on Knife River, with six research analysts rating the stock as a "Buy" and setting an average price target of $114.33.
• Despite a revenue increase of 3.3% year-over-year, Knife River reported a net income per share of $0.89 for the last quarter, falling short of the consensus estimate of $1.27 per share.

Price T Rowe Associates Inc. MD lifted its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 4,145.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,667,822 shares of the company's stock after purchasing an additional 1,628,535 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.94% of Knife River worth $150,456,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Knife River in the first quarter valued at approximately $26,000. State of Wyoming acquired a new position in shares of Knife River in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group grew its holdings in shares of Knife River by 31,200.0% in the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Versant Capital Management Inc grew 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 purchasing an additional 271 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Knife River in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Down 2.2%

Shares of Knife River stock traded down $1.86 during trading hours on Thursday, hitting $80.90. The company had a trading volume of 1,129,714 shares, compared to its average volume of 565,132. The company's 50-day moving average is $83.67 and its two-hundred day moving average is $89.78. Knife River Corporation has a twelve month low of $73.91 and a twelve month high of $108.83. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The company has a market cap of $4.58 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 6.57 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results 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 net margin of 5.20% and a return on equity of 10.58%. The company had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. During the same quarter in the previous year, the company posted $1.37 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Finally, DA Davidson lowered 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. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock 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.