TD Asset Management Inc Buys 17,622 Shares of Knife River Corporation (NYSE:KNF)

Key Points

• TD Asset Management Inc significantly increased its stake in Knife River Corporation by 400.5%, adding 17,622 shares to own a total of 22,022 shares, valued at approximately $1.99 million.
• Several other institutional investors also made movements during the first quarter, contributing to 80.11% of Knife River's stock being owned by hedge funds and institutions.
• Analysts have mixed projections for Knife River, with Wells Fargo lowering its price target from $114.00 to $96.00, while other firms maintain buy ratings with varying price objectives.

TD Asset Management Inc lifted its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 400.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,022 shares of the company's stock after purchasing an additional 17,622 shares during the period. TD Asset Management Inc's holdings in Knife River were worth $1,987,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of KNF. JPMorgan Chase & Co. boosted its holdings in Knife River by 18.4% during the fourth quarter. JPMorgan Chase & Co. now owns 247,541 shares of the company's stock worth $25,160,000 after buying an additional 38,405 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Knife River by 15.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,268 shares of the company's stock valued at $840,000 after buying an additional 1,097 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Knife River by 6.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,670 shares of the company's stock valued at $373,000 after buying an additional 224 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in Knife River in the fourth quarter valued at approximately $361,000. Finally, Franklin Resources Inc. increased its stake in Knife River by 23.4% in the fourth quarter. Franklin Resources Inc. now owns 520,262 shares of the company's stock valued at $52,879,000 after purchasing an additional 98,804 shares in the last quarter. Institutional investors own 80.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Knife River from $114.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Royal Bank Of Canada assumed coverage on shares of Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target on the stock. Finally, DA Davidson decreased their price target 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Knife River currently has an average rating of "Buy" and an average target price of $114.17.

Knife River Stock Up 0.4%

KNF stock traded up $0.30 during midday trading on Wednesday, reaching $86.30. 405,534 shares of the company's stock traded hands, compared to its average volume of 552,548. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 2.30 and a beta of 0.63. The firm's fifty day moving average price is $83.57 and its 200-day moving average price is $91.31. The company has a quick ratio of 1.49, a current ratio of 2.94 and a debt-to-equity ratio of 0.82. Knife River Corporation has a 52 week low of $69.77 and a 52 week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The firm had revenue of $833.80 million during the quarter, compared to the consensus estimate of $902.26 million. During the same quarter in the previous year, the company earned $1.37 EPS. The business's revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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.