Knife River Corporation $KNF Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Knife River Corporation by 1.5%, holding 5,871,049 shares valued at approximately $529.6 million.
• As of the most recent quarter, 80.11% of Knife River's stock is owned by institutional investors, indicating significant institutional interest.
• Knife River's latest earnings report showed a decline in EPS to $0.89, missing expectations, and the company anticipates a consensus EPS of 4.11 for the year.

Vanguard Group Inc. cut its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,871,049 shares of the company's stock after selling 87,485 shares during the quarter. Vanguard Group Inc. owned about 10.36% of Knife River worth $529,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Knife River in the first quarter valued at $26,000. State of Wyoming purchased a new stake in shares of Knife River during the 4th quarter worth about $30,000. Versant Capital Management Inc increased its position in Knife River by 501.9% during the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after purchasing an additional 271 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Knife River in the first quarter valued at approximately $35,000. Finally, Bessemer Group Inc. grew its stake in Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KNF. Royal Bank Of Canada began coverage on shares of Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price on the stock. 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 note on Tuesday, June 10th. Finally, Wells Fargo & Company increased their target price on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River has a consensus rating of "Buy" and an average price target of $114.33.

Knife River Stock Down 2.1%

NYSE:KNF traded down $1.90 on Monday, reaching $88.10. The stock had a trading volume of 188,301 shares, compared to its average volume of 559,846. The company has a 50-day moving average of $83.02 and a 200 day moving average of $90.42. 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 market cap of $4.99 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 6.56 and a beta of 0.63. Knife River Corporation has a 12-month low of $73.91 and a 12-month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly 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). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. During the same period in the prior year, the company posted $1.37 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

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.