Greenwood Capital Associates LLC Lowers Stake in Knife River Corporation $KNF

Greenwood Capital Associates LLC lowered its stake in shares of Knife River Corporation (NYSE:KNF) by 14.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,549 shares of the company’s stock after selling 902 shares during the period. Greenwood Capital Associates LLC’s holdings in Knife River were worth $453,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in 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 worth $150,456,000 after purchasing an additional 1,628,535 shares during the last quarter. Invesco Ltd. increased its stake in Knife River by 40.6% in 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 during the period. Alliancebernstein L.P. increased its stake in Knife River by 7.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company’s stock worth $106,429,000 after purchasing an additional 78,209 shares during the period. Driehaus Capital Management LLC increased its stake in Knife River by 9.6% in the 1st quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company’s stock worth $97,239,000 after purchasing an additional 94,710 shares during the period. Finally, American Century Companies Inc. grew its holdings 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 worth $95,870,000 after purchasing an additional 175,063 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Knife River in a report on Monday, June 16th. They issued an “outperform” rating and a $129.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Saturday, September 27th. Wells Fargo & Company upped their price objective on shares of Knife River from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. DA Davidson reduced their price target on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Oppenheimer reduced their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.83.

Knife River Stock Performance

Knife River stock opened at $72.55 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4.11 billion, a P/E ratio of 26.97, a PEG ratio of 6.10 and a beta of 0.57. The stock’s 50 day moving average is $81.65 and its 200 day moving average is $86.45. Knife River Corporation has a twelve month low of $70.80 and a twelve month high of $108.83.

Knife River (NYSE:KNF) last released its 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 company had revenue of $833.80 million during 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. On average, equities research analysts predict 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.