Knife River Corporation $KNF Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Knife River Corporation (KNF) by 16.7%, acquiring an additional 12,540 shares in the first quarter to own a total of 87,431 shares valued at approximately $7.9 million.
• Analysts have recently updated their price targets for Knife River, with Wells Fargo raising its target from $96.00 to $97.00, while Royal Bank of Canada set a new target of $129.00 and DA Davidson lowered it to $120.00.
• Knife River reported earnings of $0.89 per share for its latest quarter, missing analyst estimates, and had revenues of $833.80 million, which were below the consensus estimate of $902.26 million.

Russell Investments Group Ltd. increased its position in Knife River Corporation (NYSE:KNF - Free Report) by 16.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,431 shares of the company's stock after buying an additional 12,540 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Knife River worth $7,887,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KNF. Opal Wealth Advisors LLC acquired a new position in Knife River in the 1st quarter valued at $26,000. Versant Capital Management Inc grew its position 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 during the period. State of Wyoming acquired a new position in Knife River in the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Knife River during the first quarter worth about $35,000. Finally, Bessemer Group Inc. boosted its stake in Knife River by 173.9% in the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

Knife River Stock Up 4.9%

Shares of KNF stock traded up $4.27 during trading hours on Friday, reaching $91.95. The company had a trading volume of 675,517 shares, compared to its average volume of 743,856. The stock's fifty day simple moving average is $83.24 and its 200 day simple moving average is $90.10. The company has a market capitalization of $5.21 billion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 6.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. Knife River Corporation has a twelve month low of $73.91 and a twelve month high of $108.83.

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 analysts' consensus estimates of $1.27 by ($0.38). The firm had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

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.