Victory Capital Management Inc. Raises Stock Position in Knife River Co. (NYSE:KNF)

Victory Capital Management Inc. raised its stake in shares of Knife River Co. (NYSE:KNF) by 21.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,477 shares of the company’s stock after purchasing an additional 2,878 shares during the quarter. Victory Capital Management Inc.’s holdings in Knife River were worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Knife River during the 2nd quarter valued at $39,000. TFO Wealth Partners LLC boosted its holdings in shares of Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after buying an additional 765 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Knife River during the 1st quarter valued at $203,000. Koshinski Asset Management Inc. bought a new stake in shares of Knife River during the 1st quarter valued at $206,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Knife River during the 4th quarter valued at $211,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of KNF stock opened at $91.51 on Friday. The stock has a market cap of $5.18 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.81. The company’s fifty day moving average price is $77.59 and its 200-day moving average price is $75.82. Knife River Co. has a 12 month low of $46.51 and a 12 month high of $92.28. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. Knife River’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. On average, equities analysts expect that Knife River Co. will post 3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stephens started coverage on shares of Knife River in a report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

About Knife River

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.