Knife River (KNF) Receives Buy Rating from B. Riley Securities Amid Strong Institutional Backing

Analyst Rating Signals 24.83% Growth Potential

B. Riley Securities launched its analyst coverage of Knife River (KNF) on January 16, 2026, establishing a bullish stance on the stock. The research team has projected a one-year price target of $100.16 per share, suggesting substantial upside from the January 14 close of $80.24. This represents a potential gain of 24.83%, with analyst estimates ranging between $75.75 on the conservative end and $126.00 at the bullish extreme.

Beyond the stock price assessment, the financial outlook appears constructive. KNF is projected to generate $3,200 million in annual revenue, reflecting 4.98% growth, while non-GAAP earnings per share are expected to reach $3.89. These metrics underscore the company’s operational trajectory moving into 2026.

Institutional Positioning and Fund Dynamics

The institutional investor base demonstrates overall support, with 824 funds and institutions maintaining positions in KNF as of the latest reporting period. This represents a net reduction of 63 shareholders from the prior quarter, equivalent to a 7.10% decline. Despite the modestly smaller number of institutional holders, average portfolio weighting has expanded slightly to 0.20% of fund holdings, up from 0.04%, indicating that existing investors are increasing their conviction.

Total institutional share ownership declined marginally by 2.10% to 67.89 million shares, a sign that some consolidation is occurring among large stakeholders. The put/call ratio stands at 0.29, a metric that traditionally reflects bullish market sentiment.

Major Shareholder Movements

Among the largest institutional investors, T Rowe Associates has emerged as an active buyer. The firm increased its KNF position to 3.79 million shares, representing 6.69% of outstanding equity. Notably, T Rowe boosted its holdings by 21.30% from its previous filing, while simultaneously raising its portfolio allocation by 13.00% over the three-month period. This aggressive accumulation suggests confidence in the company’s medium-term prospects.

Baillie Gifford maintains the second-largest institutional stake with 2.20 million shares (3.88% ownership), though recent portfolio adjustments have not been disclosed in detail.

Capital Research Global Investors holds a meaningful position of 1.86 million shares, representing 3.29% ownership. However, this investor has taken a more cautious stance recently, trimming holdings by 2.15% from the prior quarter and reducing portfolio allocation by 13.62%, signaling selective profit-taking.

Passive index funds also feature prominently in KNF’s investor base. The iShares Core S&P Mid-Cap ETF (IJH) maintains 1.85 million shares (3.26% ownership), while Vanguard’s Total Stock Market Index Fund holds 1.83 million shares (3.23% ownership). Both index vehicles marginally reduced their allocations during the quarter, a typical pattern as their methodologies track broader market weightings rather than active stock selection.

The divergence between T Rowe Associates’ aggressive buying and other institutions’ measured trimming suggests a split market view, though the B. Riley coverage initiation may influence sentiment in the coming weeks.