Raymond James Financial Inc. Acquires 63,827 Shares of Knife River Corporation $KNF

Key Points

• Raymond James Financial Inc. increased its stake in Knife River Corporation by 44.4%, owning 207,473 shares valued at approximately $18.7 million as of the latest SEC filing.
• Analysts have a consensus rating of "Buy" for Knife River, with six firms recommending the stock and a price target averaging $114.33.
• Knife River reported lower than expected earnings in its latest quarterly results, with an EPS of $0.89, significantly missing the consensus estimate of $1.27.

Raymond James Financial Inc. raised its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 44.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,473 shares of the company's stock after buying an additional 63,827 shares during the period. Raymond James Financial Inc. owned about 0.37% of Knife River worth $18,716,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Knife River by 19.7% during the 1st quarter. American Century Companies Inc. now owns 1,062,743 shares of the company's stock valued at $95,870,000 after buying an additional 175,063 shares during the period. Aberdeen Group plc boosted its position in Knife River by 40.5% during the 1st quarter. Aberdeen Group plc now owns 297,182 shares of the company's stock valued at $26,809,000 after buying an additional 85,592 shares during the period. Fox Run Management L.L.C. purchased a new stake in Knife River during the 1st quarter valued at $681,000. Boston Partners boosted its position in Knife River by 1.2% during the 1st quarter. Boston Partners now owns 238,385 shares of the company's stock valued at $21,435,000 after buying an additional 2,904 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Knife River by 16.7% during the 1st quarter. Russell Investments Group Ltd. now owns 87,431 shares of the company's stock valued at $7,887,000 after buying an additional 12,540 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Trading Down 1.1%

Shares of NYSE:KNF traded down $0.93 on Tuesday, hitting $80.07. The company had a trading volume of 679,927 shares, compared to its average volume of 706,789. The firm's 50-day simple moving average is $83.69 and its two-hundred day simple moving average is $89.16. 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 market capitalization of $4.54 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 5.90 and a beta of 0.62.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 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 company 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 business posted $1.37 earnings per share. The company'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. Equities analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KNF has been the subject of several analyst reports. Wells Fargo & Company increased their price target 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 dropped 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 report on Tuesday, June 10th. Finally, Royal Bank Of Canada assumed coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. 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 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.