Knife River Corporation $KNF Shares Bought by Future Fund LLC

by · The Markets Daily

Future Fund LLC grew its holdings in shares of Knife River Corporation (NYSE:KNF – Free Report) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,400 shares of the company’s stock after buying an additional 8,132 shares during the period. Future Fund LLC owned 0.07% of Knife River worth $3,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KNF. McMillan Office Inc. bought a new position in Knife River in the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. raised its stake in Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after acquiring an additional 544 shares in the last quarter. GAMMA Investing LLC raised its stake in Knife River by 34.8% during the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after acquiring an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Knife River by 198.5% during the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after acquiring an additional 536 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNF has been the subject of several recent analyst reports. Zacks Research raised Knife River from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Oppenheimer assumed coverage on shares of Knife River in a research note on Thursday, May 28th. They set an “outperform” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their price target on shares of Knife River from $80.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and an average target price of $97.14.

Check Out Our Latest Report on Knife River

Knife River Stock Performance

Shares of NYSE KNF opened at $81.80 on Friday. The stock has a fifty day moving average price of $80.27 and a two-hundred day moving average price of $81.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The firm has a market cap of $4.64 billion, a P/E ratio of 31.83, a PEG ratio of 1.50 and a beta of 0.37. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $96.28.

Knife River (NYSE:KNF – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The company had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. During the same period last year, the firm earned ($1.21) EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that Knife River Corporation will post 3.32 EPS for the current fiscal year.

Knife River Company Profile

(Free Report)

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.

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