MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in Kenon Holdings Ltd. $KEN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Kenon Holdings Ltd. by 19.6%, now owning 342,198 shares valued at approximately $10.76 million.
• Several institutional investors have increased their holdings in Kenon, with Clal Insurance Enterprises boosting its position by 9.5% and CWA Asset Management by 31.2%.
• Kenon Holdings reported an earnings per share (EPS) of $0.10 for the last quarter, alongside a net margin of 63.80% and a market cap of $2.40 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 342,198 shares of the utilities provider's stock after selling 83,351 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.66% of Kenon worth $10,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KEN. Northern Trust Corp raised its stake in Kenon by 104.6% during the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock valued at $524,000 after acquiring an additional 7,881 shares during the last quarter. Nuveen LLC purchased a new stake in Kenon during the 1st quarter valued at approximately $575,000. Invesco Ltd. raised its stake in Kenon by 23.0% during the 1st quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider's stock valued at $734,000 after acquiring an additional 4,293 shares during the last quarter. Bank of America Corp DE raised its stake in Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock valued at $774,000 after acquiring an additional 20,928 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in Kenon by 34.4% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 29,471 shares of the utilities provider's stock valued at $942,000 after acquiring an additional 7,538 shares during the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

Kenon Stock Performance

KEN traded down $2.07 on Monday, hitting $44.62. 4,560 shares of the company traded hands, compared to its average volume of 18,531. The company has a 50 day moving average of $45.64 and a 200-day moving average of $37.81. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.33 billion, a PE ratio of 13.95 and a beta of 1.17. Kenon Holdings Ltd. has a 12-month low of $24.27 and a 12-month high of $49.99.

Kenon (NYSE:KEN - Get Free Report) last issued its earnings results on Thursday, August 28th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $196.00 million during the quarter. Kenon had a negative return on equity of 2.32% and a net margin of 63.80%.

Kenon Profile

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.