US Bancorp DE Lowers Holdings in Knife River Corporation $KNF

US Bancorp DE trimmed its position in Knife River Corporation (NYSE:KNF) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 425,287 shares of the company’s stock after selling 1,730 shares during the quarter. US Bancorp DE owned 0.75% of Knife River worth $34,720,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KNF. Opal Wealth Advisors LLC purchased a new stake in shares of Knife River in the 1st quarter worth $26,000. Brooklyn Investment Group raised its position in shares of Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after acquiring an additional 312 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Knife River in the 1st quarter worth $35,000. Bessemer Group Inc. raised its position in shares of Knife River by 173.9% in the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company’s stock worth $49,000 after acquiring an additional 346 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Knife River by 239.5% in the 1st quarter. UMB Bank n.a. now owns 567 shares of the company’s stock worth $51,000 after acquiring an additional 400 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Up 1.4%

Shares of NYSE:KNF opened at $67.36 on Friday. The business’s 50-day moving average is $80.26 and its 200 day moving average is $85.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The firm has a market capitalization of $3.82 billion, a P/E ratio of 25.04, a P/E/G ratio of 5.60 and a beta of 0.57. Knife River Corporation has a 1 year low of $66.16 and a 1 year high of $108.83.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.38). The firm 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 prior year, the company posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. On average, research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.