KNF Knife River Corporation

Harbor Capital Advisors Inc. significantly reduced its stake in Knife River Corporation ($KNF) by selling 89.3% of its shares, decreasing its holdings to 4,402 shares valued at $338,000. Conversely, several other institutional investors, including Norges Bank, Ameriprise Financial, Raymond James Financial, Franklin Resources, and Boston Partners, either initiated new positions or substantially increased their holdings in KNF. Analysts have a "Moderate Buy" rating for Knife River, with an average price target of $96.33, while the stock currently trades around $72.64.

Congress Asset Management Co. recently increased its stake in Knife River Corporation ($KNF) by 2.9%, acquiring an additional 21,736 shares and bringing its total holdings to 766,403 shares valued at approximately $58.9 million. This increase reflects continued institutional interest in Knife River, a company that recently beat EPS estimates but slightly missed revenue forecasts. Analysts maintain a "Moderate Buy" consensus rating for KNF with an average target price of $96.33.

Thrivent Financial for Lutherans significantly increased its stake in Knife River Corporation (NYSE:KNF) by 32.9% in the second quarter, bringing its total holdings to 67,062 shares valued at approximately $5.48 million. This move is part of a broader trend of institutional investment in KNF, with overall institutional ownership now standing at 80.11%. Despite mixed analyst ratings, the company reported a strong EPS beat and has a consensus "Moderate Buy" rating with a target price of $96.33.

Knife River Corporation has acquired Texcrete Operations LLC and TexAgg LLC, known collectively as Texcrete, expanding its presence in the high-growth Texas Triangle region. This acquisition adds six ready-mix concrete plants, 85 ready-mix trucks, and a sand and gravel site with over 20 years of aggregate reserves, strengthening Knife River's vertically integrated materials platform in Central Texas. The deal enhances Knife River's long-term supply position, supports future infrastructure and construction projects, and helps balance the seasonality of its northern markets.

Knife River (KNF) recently secured a $112 million highway paving contract and acquired two companies in Texas, yet its share price has seen a significant year-to-date decline. Despite analysts suggesting it is 21.2% undervalued with a fair value of $96.80, its current P/E ratio is higher than peers, indicating potential risks. The article prompts investors to consider whether the market has already factored in its growth or if an undervaluation exists.

Knife River Corp. has acquired Texcrete, a company based in the Bryan and College Station market in Texas. This acquisition includes six ready-mixed concrete plants, 85 ready-mix trucks, and a sand and gravel site providing over 20 years of aggregate reserves. The deal aligns with Knife River's strategy of expanding its materials-based, vertically integrated operations in high-growth markets and is expected to help balance seasonality in its northern markets.