Janney Montgomery Scott LLC Sells 1,106 Shares of Knife River Corporation $KNF

Janney Montgomery Scott LLC lowered its stake in shares of Knife River Corporation (NYSE:KNF) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,729 shares of the company’s stock after selling 1,106 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Knife River were worth $1,203,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Knife River by 4,145.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock valued at $150,456,000 after purchasing an additional 1,628,535 shares during the last quarter. Invesco Ltd. boosted its holdings in Knife River by 40.6% during the 1st 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 during the period. Alliancebernstein L.P. boosted its holdings in Knife River by 7.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company’s stock valued at $106,429,000 after acquiring an additional 78,209 shares during the period. Driehaus Capital Management LLC boosted its holdings in Knife River by 9.6% during the 1st quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company’s stock valued at $97,239,000 after acquiring an additional 94,710 shares during the period. Finally, American Century Companies Inc. boosted its holdings 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 acquiring an additional 175,063 shares during the period. Institutional investors own 80.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. DA Davidson lowered their target price on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Oppenheimer reduced their target price on Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada started coverage on Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 target price on the stock. Finally, Wells Fargo & Company started coverage on Knife River in a report on Tuesday, October 7th. They issued a “cautious” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.83.

Knife River Stock Up 1.4%

Shares of KNF opened at $67.36 on Monday. Knife River Corporation has a 52 week low of $66.16 and a 52 week high of $108.83. 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 $3.82 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 5.68 and a beta of 0.57. The stock’s 50-day moving average price is $80.26 and its 200-day moving average price is $85.44.

Knife River (NYSE:KNF) last issued its 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 return on equity of 10.58% and a net margin of 5.20%.The company had revenue of $833.80 million during the quarter, compared to analysts’ expectations of $902.26 million. During the same quarter in the previous year, the company earned $1.37 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Knife River Corporation will post 4.11 EPS for the current 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.