Talen Energy Corporation (NASDAQ:TLN) is River Road Asset Management LLC’s 4th Largest Position

River Road Asset Management LLC reduced its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,022,701 shares of the utilities provider’s stock after selling 535,048 shares during the period. Talen Energy makes up approximately 2.7% of River Road Asset Management LLC’s investment portfolio, making the stock its 4th biggest holding. River Road Asset Management LLC owned 2.01% of Talen Energy worth $206,044,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Rubric Capital Management LP acquired a new stake in shares of Talen Energy during the third quarter worth about $2,026,342,000. Monarch Alternative Capital LP acquired a new position in shares of Talen Energy in the 3rd quarter valued at $258,448,000. Mirabella Financial Services LLP purchased a new stake in Talen Energy during the third quarter worth $168,108,000. Sachem Head Capital Management LP purchased a new stake in shares of Talen Energy during the 3rd quarter worth about $167,724,000. Finally, FMR LLC acquired a new position in Talen Energy in the 3rd quarter worth about $141,363,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares in the company, valued at $1,323,188,115.45. This trade represents a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Talen Energy Trading Down 6.0 %

TLN opened at $165.75 on Tuesday. The business’s 50 day moving average price is $221.61 and its 200 day moving average price is $182.82. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10. The stock has a market capitalization of $7.62 billion, a PE ratio of 8.87, a P/E/G ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a one year low of $98.50 and a one year high of $258.03.

Wall Street Analysts Forecast Growth

TLN has been the subject of several research analyst reports. Barclays reduced their target price on Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Oppenheimer lifted their price objective on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Daiwa Capital Markets set a $200.00 price target on Talen Energy in a research report on Wednesday, March 5th. UBS Group lifted their target price on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Evercore ISI initiated coverage on shares of Talen Energy in a research note on Friday, February 21st. They set an “outperform” rating for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy presently has an average rating of “Buy” and a consensus target price of $241.20.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.