Swiss National Bank Buys 3,900 Shares of Knife River Corporation $KNF

Key Points

• The Swiss National Bank increased its stake in Knife River Corporation by 3.7% during Q1, owning 109,698 shares valued at nearly $9.9 million.
• Several hedge funds have also made significant investments in Knife River, with 80.11% of the stock currently held by institutional investors.
• Analysts have mixed outlooks on Knife River, with six rating it a "buy" and an average target price of $114.33, despite recent earnings reports missing expectations.

Swiss National Bank boosted its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 109,698 shares of the company's stock after buying an additional 3,900 shares during the period. Swiss National Bank owned approximately 0.19% of Knife River worth $9,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KNF. Capital Research Global Investors raised its holdings in Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after buying an additional 603,170 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Knife River during the 4th quarter worth approximately $46,750,000. Massachusetts Financial Services Co. MA raised its holdings in Knife River by 56.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 426,781 shares of the company's stock worth $38,500,000 after buying an additional 153,808 shares during the period. Raymond James Financial Inc. acquired a new stake in Knife River during the 4th quarter worth approximately $14,600,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Knife River during the 4th quarter worth approximately $13,359,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Down 2.8%

Shares of NYSE:KNF traded down $2.47 during midday trading on Wednesday, hitting $86.86. The stock had a trading volume of 122,492 shares, compared to its average volume of 558,327. Knife River Corporation has a 12 month low of $73.91 and a 12 month 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 business's 50-day simple moving average is $82.91 and its 200-day simple moving average is $90.30. The company has a market cap of $4.92 billion, a P/E ratio of 32.29, a PEG ratio of 6.37 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share 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 firm had revenue of $833.80 million during the quarter, compared to the consensus estimate of $902.26 million. During the same period in the prior year, the business posted $1.37 earnings per share. Knife River's quarterly revenue was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on KNF shares. DA Davidson dropped their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. 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, 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 on the stock. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target 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.