Institutional Momentum Builds as B. Riley Securities Eyes KNF with Bullish Stance

Fund Positioning Signals Strong Interest in Knife River

The institutional investment landscape around Knife River (NYSE:KNF) is showing compelling signals. Currently, 824 funds and institutions maintain positions in KNF, though this represents a slight pullback of 63 owners from the previous quarter—a 7.10% decline. Despite the modest decrease in participant count, average fund portfolio allocation to KNF has grown to 0.20%, marking a 0.16% increase. More significantly, total institutional shareholding remains substantial at 67,889K shares, having decreased only marginally by 2.10% over the past three months.

Notable Moves by Major Shareholders

The movements among heavyweight investors reveal divergent strategies. Price T Rowe Associates has aggressively expanded its stake, now controlling 3,792K shares (6.69% ownership)—a striking 21.30% increase from its previous filing of 2,984K shares. The firm simultaneously boosted its portfolio weight in KNF by 13.00%, signaling growing confidence in the company’s prospects. Conversely, Capital Research Global Investors trimmed its position from 1,903K to 1,863K shares (3.29% ownership), representing a 2.15% reduction and a 13.62% decrease in portfolio allocation.

Other substantial holders include Baillie Gifford with 2,199K shares (3.88% ownership), while passive indices like the iShares Core S&P Mid-Cap ETF and Vanguard Total Stock Market Index Fund maintain sizable positions at 1,845K and 1,831K shares respectively, both representing over 3% ownership stakes.

Analyst Optimism Reflects Upside Potential

B. Riley Securities recently initiated coverage of KNF with a Buy rating, underpinning bullish sentiment. The consensus one-year price target stands at $100.16 per share as of January 14, 2026, implying 24.83% upside from the latest closing price of $80.24. Price forecasts span a wide range from $75.75 to $126.00, reflecting varying analyst perspectives on the company’s trajectory.

The financial outlook supports this optimism, with projected annual revenue reaching 3,200MM—a 4.98% year-over-year increase. Projected non-GAAP EPS is expected to reach 3.89, indicating solid earnings potential. The put/call ratio of 0.29 reinforces the bullish bias, suggesting options market participants are pricing in upward momentum.

The Takeaway

Knife River presents a mixed but ultimately encouraging picture. While institutional participation has declined slightly in headcount, quality remains evident through increased allocations by significant players like Price T Rowe Associates. The analyst community’s formal coverage initiation coupled with meaningful upside targets signals confidence in KNF’s operational and financial trajectory. Investors monitoring the space may find merit in tracking how these positioned institutions continue to adjust their holdings in coming quarters.