Elevation Point Wealth Partners LLC Invests $300,000 in Knife River Corporation $KNF

Elevation Point Wealth Partners LLC bought a new stake in Knife River Corporation (NYSE:KNF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,670 shares of the company’s stock, valued at approximately $300,000.

A number of other institutional investors have also recently made changes to their positions in KNF. Price T Rowe Associates Inc. MD lifted its stake 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 buying an additional 1,628,535 shares in the last quarter. Geode Capital Management LLC grew its position in Knife River by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock worth $113,960,000 after acquiring an additional 15,464 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of 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 in the last quarter. Alliancebernstein L.P. boosted its stake in Knife River by 7.1% in the first quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company’s stock worth $106,429,000 after buying an additional 78,209 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of 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 purchasing an additional 94,710 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Up 1.1%

Shares of KNF opened at $74.84 on Friday. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $108.83. The business’s 50 day moving average is $69.04 and its 200 day moving average is $79.56. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.24 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.52 and a beta of 0.53.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. DA Davidson decreased their target price on shares of Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Finally, UBS Group upgraded Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

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.