Fri Sep 20 07:42:55 UTC 2024: ## Victory Capital Boosts Stake in Knife River, Signaling Confidence in Construction Sector
**New York, NY** – Victory Capital Management Inc. increased its holdings in Knife River Co. (NYSE: KNF) by 21.2% during the second quarter, according to a recent 13F filing. The firm now owns 16,477 shares of the company, valued at $1,156,000. This move signifies a growing interest in Knife River, a major player in the US construction materials and contracting sector.
Victory Capital wasn’t alone in its bullish stance. Other hedge funds like International Assets Investment Management LLC and TFO Wealth Partners LLC also acquired new positions or significantly increased their existing stakes in Knife River during recent quarters.
The company’s stock opened at $91.51 on Friday, with a market cap of $5.18 billion. Analysts at Stephens initiated coverage on Knife River with an “overweight” rating and a $85.00 target price. Overall, MarketBeat reports a “Moderate Buy” consensus rating for KNF, with an average price target of $81.60.
Knife River Corporation provides construction materials and contracting services across the US, operating through five segments: Pacific, Northwest, Mountain, Central, and Energy Services. The company’s diverse portfolio, including aggregates, asphalt, and ready-mix concrete, positions it well within the growing infrastructure development sector.
With a strong institutional investor base and positive analyst sentiment, Knife River Co. appears well-positioned to benefit from the ongoing expansion of the construction industry. Investors are likely to closely watch KNF’s performance in the coming quarters to gauge its future prospects.
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