Altshuler Shaham Ltd Reduces Holdings in Kenon Holdings Ltd. (NYSE:KEN)

Altshuler Shaham Ltd trimmed its position in shares of Kenon Holdings Ltd. (NYSE:KEN) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,475,486 shares of the utilities provider’s stock after selling 56,903 shares during the period. Kenon accounts for about 4.6% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 9th biggest holding. Altshuler Shaham Ltd owned 0.06% of Kenon worth $84,611,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Kenon by 143.9% in the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after acquiring an additional 63,374 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Kenon by 1.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock worth $52,838,000 after purchasing an additional 27,294 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Kenon by 14.9% in the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after buying an additional 12,153 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Kenon Price Performance

Shares of NYSE:KEN traded up $0.65 during midday trading on Thursday, reaching $23.59. 17,803 shares of the company’s stock traded hands, compared to its average volume of 21,396. The company has a market cap of $1.27 billion, a P/E ratio of -5.19 and a beta of 1.45. The company has a fifty day simple moving average of $23.74 and a two-hundred day simple moving average of $23.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.05 and a current ratio of 3.05. Kenon Holdings Ltd. has a 1 year low of $17.64 and a 1 year high of $30.65.

Kenon (NYSE:KEN) last released its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%. The firm had revenue of $151.00 million during the quarter.

Kenon Increases Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 8th were paid a dividend of $3.80 per share. This represents a yield of 10.5%. The ex-dividend date was Friday, April 5th. This is a boost from Kenon’s previous — dividend of $2.79. Kenon’s dividend payout ratio is currently -85.97%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Kenon from a “sell” rating to a “hold” rating in a research note on Tuesday.

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.