Walleye Capital LLC Invests $1.20 Million in Knife River Corporation $KNF

Key Points

• Walleye Capital LLC acquired 13,313 shares of Knife River Corporation valued at approximately $1.2 million in the first quarter, indicating increased institutional interest in the company.
• Knife River's recent quarter reported an EPS of $0.89, missing analyst estimates, with revenues of $833.8 million compared to expectations of $902.26 million.
• Despite the earnings miss, analysts maintain a consensus rating of "Buy" with a price target averaging $114.33, and recent upgrades suggest positive sentiment about the stock's future performance.

Walleye Capital LLC purchased a new position in Knife River Corporation (NYSE:KNF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,313 shares of the company's stock, valued at approximately $1,201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Knife River by 4,145.2% during 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 buying an additional 1,628,535 shares in the last quarter. Invesco Ltd. grew its position in Knife River by 40.6% during the 1st quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock worth $111,583,000 after purchasing an additional 357,133 shares in the last quarter. American Century Companies Inc. raised its stake in Knife River by 19.7% during the 1st quarter. American Century Companies Inc. now owns 1,062,743 shares of the company's stock valued at $95,870,000 after purchasing an additional 175,063 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings 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 purchasing an additional 593,431 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Knife River by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock worth $105,121,000 after buying an additional 17,234 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Up 2.0%

Shares of KNF traded up $1.50 during mid-day trading on Thursday, hitting $78.12. 345,825 shares of the company's stock were exchanged, compared to its average volume of 566,764. The firm has a fifty day moving average of $83.60 and a two-hundred day moving average of $89.08. Knife River Corporation has a twelve month low of $73.91 and a twelve month high of $108.83. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 5.90 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 quarterly earnings data 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). The business had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 EPS. 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 year.

Analysts Set New Price Targets

Several brokerages recently issued reports on KNF. DA Davidson reduced their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Wells Fargo & Company increased their price target 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. Finally, Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $114.33.

Knife River Company 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.