Envestnet Asset Management Inc. Boosts Stock Holdings in Knife River Corporation $KNF

Envestnet Asset Management Inc. lifted its stake in Knife River Corporation (NYSE:KNF) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,078 shares of the company’s stock after buying an additional 4,299 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Knife River worth $3,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KNF. Ameriprise Financial Inc. lifted its position in Knife River by 32.1% in the first quarter. Ameriprise Financial Inc. now owns 605,274 shares of the company’s stock valued at $54,604,000 after purchasing an additional 146,987 shares during the last quarter. CWM LLC grew its holdings in shares of Knife River by 9.5% in the first quarter. CWM LLC now owns 7,360 shares of the company’s stock worth $664,000 after purchasing an additional 640 shares during the last quarter. DMKC Advisory Services LLC purchased a new position in shares of Knife River in the second quarter worth $358,000. Dynamic Technology Lab Private Ltd bought a new stake in Knife River during the 1st quarter valued at $416,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Knife River during the 2nd quarter valued at $273,000. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF opened at $69.45 on Friday. The company has a 50-day simple moving average of $70.27 and a two-hundred day simple moving average of $81.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.39 and a quick ratio of 1.47. The firm has a market capitalization of $3.94 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.45 and a beta of 0.53. Knife River Corporation has a one year low of $58.72 and a one year high of $108.83.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Knife River has set its FY 2025 guidance at EPS. On average, analysts anticipate that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KNF shares. DA Davidson cut their price target on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. UBS Group upgraded shares of Knife River to an “overweight” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reduced their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Wells Fargo & Company raised Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

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.