Nuveen LLC Buys Shares of 18,270 Kenon Holdings Ltd. $KEN

Key Points

• Nuveen LLC made a new investment in Kenon Holdings Ltd., acquiring 18,270 shares valued at approximately $575,000 during the first quarter.
• Kenon's stock is currently trading at $43.76, with a market capitalization of $2.28 billion, and the company recently reported a net margin of 63.80%.
• Wall Street analysts have downgraded Kenon from a "hold" rating to a "sell" rating, indicating a shift in market sentiment towards the stock.

Nuveen LLC acquired a new stake in Kenon Holdings Ltd. (NYSE:KEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,270 shares of the utilities provider's stock, valued at approximately $575,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of 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 purchasing an additional 7,881 shares during the period. Bank of America Corp DE raised its position in shares of Kenon by 1,139.9% in the fourth 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 in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Kenon by 34.4% during the first quarter. Redhawk Wealth Advisors Inc. now owns 29,471 shares of the utilities provider's stock worth $942,000 after buying an additional 7,538 shares in the last quarter. Invesco Ltd. increased its holdings in Kenon by 23.0% in the first quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 4,293 shares during the period. Finally, CWA Asset Management Group LLC increased its holdings in Kenon by 31.2% in the first quarter. CWA Asset Management Group LLC now owns 29,727 shares of the utilities provider's stock valued at $951,000 after purchasing an additional 7,061 shares during the period. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Stock Performance

Shares of Kenon stock traded up $0.95 during trading on Monday, reaching $45.47. The company's stock had a trading volume of 6,367 shares, compared to its average volume of 18,840. Kenon Holdings Ltd. has a fifty-two week low of $24.27 and a fifty-two week high of $49.99. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $45.28 and a two-hundred day moving average price of $37.30. The firm has a market cap of $2.37 billion, a PE ratio of 14.21 and a beta of 1.17.

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

Analyst Ratings Changes

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

About Kenon

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.