MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 83,351 Shares of 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. trimmed its stake in 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 and Exchange Commission (SEC). The firm 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 about 0.66% of Kenon worth $10,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kenon Stock Up 0.2%

Shares of NYSE:KEN traded up $0.09 during trading hours on Friday, hitting $46.87. The company's stock had a trading volume of 6,293 shares, compared to its average volume of 9,445. Kenon Holdings Ltd. has a 52 week low of $24.27 and a 52 week high of $49.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.33 and a quick ratio of 4.33. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.65 and a beta of 1.17. The firm's fifty day moving average price is $45.64 and its 200 day moving average price is $37.73.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Kenon from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th.

Kenon Company 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.