Mcclain Value Management LLC trimmed its position in Dynegy Inc. (NYSE:DYN) by 19.8% in the 4th quarter, HoldingsChannel reports. The fund owned 268,851 shares of the utilities provider’s stock after selling 66,377 shares during the quarter. Dynegy makes up approximately 4.2% of Mcclain Value Management LLC’s portfolio, making the stock its 12th biggest position. Mcclain Value Management LLC’s holdings in Dynegy were worth $3,186,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Profund Advisors LLC raised its holdings in shares of Dynegy by 20.2% in the second quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock worth $131,000 after buying an additional 2,655 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Dynegy in the third quarter worth $150,000. Mizuho Securities USA LLC purchased a new position in shares of Dynegy in the third quarter worth $152,000. KBC Group NV purchased a new position in shares of Dynegy in the third quarter worth $158,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Dynegy in the third quarter worth $187,000.
DYN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Dynegy from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Bank of America assumed coverage on shares of Dynegy in a report on Tuesday, October 24th. They set a “buy” rating and a $11.00 target price for the company. SunTrust Banks cut shares of Dynegy from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Citigroup set a $12.00 target price on shares of Dynegy and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Deutsche Bank cut shares of Dynegy from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.01.
In related news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $11.79, for a total transaction of $61,897,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.
Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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