SPX Gestao de Recursos Ltda Purchases 23,000 Shares of Talen Energy Corporation (NASDAQ:TLN)

SPX Gestao de Recursos Ltda increased its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,810 shares of the utilities provider’s stock after acquiring an additional 23,000 shares during the quarter. Talen Energy comprises approximately 2.3% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 15th biggest holding. SPX Gestao de Recursos Ltda owned about 0.15% of Talen Energy worth $15,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP bought a new position in Talen Energy in the third quarter valued at approximately $2,026,342,000. Monarch Alternative Capital LP acquired a new position in Talen Energy during the third quarter worth $258,448,000. Mirabella Financial Services LLP acquired a new position in shares of Talen Energy in the third quarter valued at $168,108,000. Sachem Head Capital Management LP acquired a new position in shares of Talen Energy in the third quarter valued at $167,724,000. Finally, FMR LLC acquired a new position in shares of Talen Energy in the third quarter valued at $141,363,000. Institutional investors own 0.38% of the company’s stock.

Insider Transactions at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Talen Energy Stock Performance

Shares of TLN stock opened at $165.75 on Tuesday. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $258.03. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $221.61 and a 200-day moving average of $182.82.

Wall Street Analyst Weigh In

TLN has been the subject of a number of recent research reports. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research report on Wednesday, March 5th. Barclays dropped their target price on shares of Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. UBS Group increased their target price on shares of Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Evercore ISI started coverage on Talen Energy in a research note on Friday, February 21st. They issued an “outperform” rating for the company. Finally, Bank of America started coverage on Talen Energy in a research note on Monday, February 3rd. They issued a “buy” rating and a $253.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $241.20.

Talen Energy Profile

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.