Meitav Investment House Ltd. decreased its position in Kenon Holdings Ltd. (NYSE:KEN – Free Report) by 40.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 213,572 shares of the utilities provider’s stock after selling 144,336 shares during the period. Meitav Investment House Ltd. owned about 0.40% of Kenon worth $4,993,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of KEN. Bank of New York Mellon Corp raised its holdings in Kenon by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 280,359 shares of the utilities provider’s stock worth $8,243,000 after acquiring an additional 5,641 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Kenon by 19.3% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,007,939 shares of the utilities provider’s stock worth $58,544,000 after purchasing an additional 325,163 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Kenon in the 1st quarter valued at approximately $241,000. Virtu Financial LLC acquired a new stake in shares of Kenon in the 1st quarter valued at approximately $233,000. Finally, Norges Bank bought a new position in shares of Kenon in the fourth quarter valued at $205,000. Institutional investors and hedge funds own 14.83% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com cut shares of Kenon from a “hold” rating to a “sell” rating in a research note on Monday.
Kenon Trading Up 3.5 %
Kenon stock opened at $21.72 on Thursday. The stock has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $24.15. The stock has a market capitalization of $1.17 billion, a P/E ratio of -1.80 and a beta of 1.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.03 and a current ratio of 3.03. Kenon Holdings Ltd. has a 52 week low of $17.64 and a 52 week high of $38.30.
Kenon (NYSE:KEN – Get Free Report) last posted its earnings results on Thursday, August 31st. The utilities provider reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $165.00 million for the quarter. Kenon had a negative return on equity of 25.19% and a negative net margin of 101.51%.
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.
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