United Services Automobile Association Buys Shares of 3,645 Knife River Corporation $KNF

Key Points

• United Services Automobile Association has acquired a new stake in Knife River Corporation, purchasing 3,645 shares valued at approximately $327,000.
• Major institutional investors have significantly increased their holdings in Knife River, with Price T Rowe Associates raising its position by 4,145.2% in the 1st quarter.
• Knife River Corporation reported earnings of $0.89 per share for the quarter, missing expectations by $0.38, with revenues of $833.80 million.

United Services Automobile Association bought a new stake in shares of Knife River Corporation (NYSE:KNF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,645 shares of the company's stock, valued at approximately $327,000.

A number of other hedge funds have also recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in Knife River during the 1st quarter worth approximately $26,000. Brooklyn Investment Group increased its stake 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 worth $28,000 after purchasing an additional 312 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Knife River by 501.9% during the 1st 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 purchased a new position in shares of Knife River during the 4th quarter valued at $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Knife River in the 1st quarter worth $35,000. Institutional investors own 80.11% of the company's stock.

Knife River Trading Down 0.4%

Knife River stock traded down $0.29 during midday trading on Wednesday, reaching $75.16. The stock had a trading volume of 504,000 shares, compared to its average volume of 568,643. Knife River Corporation has a 52-week low of $74.21 and a 52-week high of $108.83. The company has a fifty day moving average of $83.18 and a 200 day moving average of $87.84. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 5.63 and a beta of 0.62. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

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). The business had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%.The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. On average, analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KNF shares. Royal Bank Of Canada assumed coverage on Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 target price on the stock. DA Davidson lowered 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. Finally, Wells Fargo & Company upped their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.