Knife River Corporation $KNF Position Boosted by Future Fund LLC

Future Fund LLC grew its holdings in shares of Knife River Corporation (NYSE:KNF) by 26.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,400 shares of the company’s stock after purchasing an additional 8,132 shares during the period. Future Fund LLC’s holdings in Knife River were worth $3,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. raised its holdings in shares of Knife River by 6.9% in the 1st quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $151,000 after purchasing an additional 119 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Knife River by 26.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 80,986 shares of the company’s stock worth $6,650,000 after buying an additional 17,082 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Knife River during the first quarter worth approximately $1,743,000. State of Michigan Retirement System boosted its holdings in Knife River by 2.2% during the first quarter. State of Michigan Retirement System now owns 13,655 shares of the company’s stock worth $1,115,000 after buying an additional 300 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Knife River by 6.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 86,360 shares of the company’s stock valued at $7,051,000 after buying an additional 5,200 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

Knife River stock opened at $81.80 on Friday. The firm’s 50 day simple moving average is $80.27 and its 200-day simple moving average is $81.14. The company has a market cap of $4.64 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. The business had revenue of $410.13 million for the quarter, compared to analyst estimates of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.21) earnings per share. As a group, equities research analysts predict that Knife River Corporation will post 3.32 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada decreased their target price on Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Wells Fargo & Company boosted their target price on Knife River from $80.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. Oppenheimer initiated coverage on Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Zacks Research raised Knife River from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and a consensus target price of $97.14.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.