Altshuler Shaham Ltd Lowers Holdings in Talen Energy Corporation $TLN

Altshuler Shaham Ltd trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN) by 14.8% in the 4th quarter, HoldingsChannel reports. The fund owned 14,863 shares of the utilities provider’s stock after selling 2,589 shares during the quarter. Altshuler Shaham Ltd’s holdings in Talen Energy were worth $5,571,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Talen Energy by 1.6% in the third quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock worth $145,870,000 after acquiring an additional 5,389 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Talen Energy by 1,526.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares during the period. Victory Capital Management Inc. grew its position in Talen Energy by 157.0% in the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after acquiring an additional 67,881 shares during the period. South Dakota Investment Council purchased a new position in Talen Energy in the third quarter worth approximately $1,489,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in Talen Energy by 11.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after acquiring an additional 4,770 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TLN. Morgan Stanley restated an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. Wells Fargo & Company raised their price target on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Raymond James Financial restated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $448.58.

Insider Transactions at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

Talen Energy Trading Up 0.8%

TLN opened at $409.81 on Thursday. The firm has a market cap of $18.61 billion, a P/E ratio of -611.65 and a beta of 1.80. The business has a fifty day simple moving average of $361.45 and a 200-day simple moving average of $358.45. Talen Energy Corporation has a 52 week low of $255.50 and a 52 week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).