Knife River Corporation $KNF Stake Lessened by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Knife River Corporation (NYSE:KNF) by 28.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,795 shares of the company’s stock after selling 89,365 shares during the quarter. Federated Hermes Inc. owned approximately 0.39% of Knife River worth $17,944,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of KNF. Price T Rowe Associates Inc. MD raised its position 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 acquiring an additional 1,628,535 shares in the last quarter. Norges Bank acquired a new stake in shares of Knife River during the second quarter worth $53,260,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Knife River by 129.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company’s stock worth $95,026,000 after buying an additional 593,431 shares during the last quarter. Nuveen LLC bought a new position in shares of Knife River in the 1st quarter worth about $38,521,000. Finally, 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 valued at $111,583,000 after buying an additional 357,133 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on KNF shares. UBS Group raised Knife River to an “overweight” rating in a report on Tuesday, November 4th. Royal Bank Of Canada cut their target price on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. began coverage on shares of Knife River in a research report on Thursday, December 4th. They set a “neutral” rating and a $83.00 price target for the company. Wall Street Zen lowered shares of Knife River from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. Finally, Oppenheimer dropped their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.33.

Knife River Trading Up 2.6%

NYSE:KNF opened at $76.15 on Thursday. The stock has a fifty day simple moving average of $69.14 and a 200 day simple moving average of $78.22. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $108.83. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Sell-side analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

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.