Institutional activity in NRG
In this part of our series, let’s take a look at how institutional investors played out NRG Energy (NRG) recently. Elliott Management, an activist shareholder in NRG Energy, exited its position in the first quarter of 2018 as per the latest 13F filing. NRG stock doubled in the last year after activists introduced a transformation plan. NRG Energy’s better-than-expected earnings in Q1 2018 suggest it’s on track with its transformation plan.
The Vanguard Group added 1.3 million shares of NRG and raised its stake to 11.4% in the first quarter. At the end of 4Q17, it held a 10.9% stake in NRG.
Among the noteworthy additions, Deutsche Asset Management added 4.9 million shares and increased its stake to 4% at the end of the first quarter. Brahman Capital added net 3.6 million shares and held more than 5% as of March 31. Fidelity Management & Research added net 0.3 million shares in the first quarter and held 5% of NRG Energy’s total outstanding shares as of March 31
Appaloosa Management lowered its stake in NRG Energy by selling net 3 million shares in Q1.
To read about institutional activity in utilities (XLU) during the first quarter, see Institutional Investors Happy with S&P 500 Utilities, Up Stakes.