Geode Capital Management LLC Purchases New Holdings in Talen Energy Corporation (NASDAQ:TLN)

Geode Capital Management LLC purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 562,598 shares of the utilities provider's stock, valued at approximately $100,317,000. Geode Capital Management LLC owned about 1.10% of Talen Energy as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TLN. Rubric Capital Management LP acquired a new stake in Talen Energy in the 3rd quarter valued at $2,026,342,000. River Road Asset Management LLC bought a new position in shares of Talen Energy in the 3rd quarter valued at about $277,653,000. Monarch Alternative Capital LP bought a new position in shares of Talen Energy in the 3rd quarter valued at about $258,448,000. Mirabella Financial Services LLP acquired a new stake in shares of Talen Energy in the third quarter valued at about $168,108,000. Finally, Sachem Head Capital Management LP bought a new stake in Talen Energy during the third quarter worth about $167,724,000. 0.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy 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 sale, the insider now owns 6,475,107 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Guggenheim raised their price target on Talen Energy from $219.00 to $246.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Oppenheimer raised their target price on shares of Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Jefferies Financial Group began coverage on shares of Talen Energy in a research report on Friday, September 13th. They set a "buy" rating and a $226.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of Talen Energy in a research note on Thursday, September 26th. They issued an "outperform" rating and a $233.00 price target for the company. Finally, Barclays boosted their price objective on shares of Talen Energy from $202.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy presently has a consensus rating of "Buy" and a consensus price target of $222.40.

Talen Energy Stock Performance

Shares of TLN stock traded up $0.38 during midday trading on Thursday, hitting $195.90. 852,680 shares of the company were exchanged, compared to its average volume of 669,797. Talen Energy Corporation has a 52 week low of $60.00 and a 52 week high of $230.89. The firm has a market capitalization of $9.96 billion and a P/E ratio of 10.49. The firm's 50 day moving average price is $191.72 and its two-hundred day moving average price is $135.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

Talen Energy Company 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.