Northwestern Mutual Wealth Management Co. Lowers Stock Position in Knife River Corporation $KNF

Northwestern Mutual Wealth Management Co. cut its stake in shares of Knife River Corporation (NYSE:KNF) by 24.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 505 shares of the company’s stock after selling 166 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Knife River were worth $46,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Knife River during the 1st quarter worth $26,000. Brooklyn Investment Group boosted its position in Knife River by 31,200.0% during the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after purchasing an additional 312 shares during the period. Versant Capital Management Inc boosted its position in Knife River by 501.9% during the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock worth $29,000 after purchasing an additional 271 shares during the period. State of Wyoming purchased a new stake in Knife River during the 4th quarter worth $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Knife River during the 1st quarter worth $35,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KNF. Wells Fargo & Company upped their price target on shares of Knife River from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 price target for the company. Finally, DA Davidson decreased their price target on shares of Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 10th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $114.33.

Knife River Stock Performance

Shares of Knife River stock opened at $80.29 on Friday. The firm has a market cap of $4.55 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 5.86 and a beta of 0.62. The firm’s 50-day simple moving average is $83.49 and its 200-day simple moving average is $88.65. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. Knife River Corporation has a 1 year low of $73.91 and a 1 year high of $108.83.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.38). The company 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 business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. Equities analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Knife River Company 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.