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

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Knife River by 4,145.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock valued at $150,456,000 after acquiring an additional 1,628,535 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Knife River by 129.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company's stock valued at $95,026,000 after acquiring an additional 593,431 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Knife River in the first quarter valued at $38,521,000. Invesco Ltd. lifted its position in shares of Knife River by 40.6% in the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock valued at $111,583,000 after acquiring an additional 357,133 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Knife River by 19.7% in the first quarter. American Century Companies Inc. now owns 1,062,743 shares of the company's stock valued at $95,870,000 after acquiring an additional 175,063 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Up 1.6%

NYSE:KNF traded up $1.21 on Thursday, hitting $76.28. 629,762 shares of the stock were exchanged, compared to its average volume of 626,708. The stock has a market cap of $4.32 billion, a PE ratio of 28.36, a PEG ratio of 5.47 and a beta of 0.62. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average of $82.97 and a 200-day moving average of $87.65. Knife River Corporation has a fifty-two week low of $74.21 and a fifty-two week high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly 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). 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 business's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. DA Davidson reduced their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. Royal Bank Of Canada assumed coverage on Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Knife River presently has a consensus rating of "Buy" and a consensus target price 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.