CIBC Asset Management Inc boosted its holdings in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,676,046 shares of the utilities provider’s stock after acquiring an additional 30,828 shares during the period. CIBC Asset Management Inc owned about 6.14% of TransAlta Corporation worth $103,141,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TAC. Parametric Portfolio Associates LLC lifted its holdings in TransAlta Corporation by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 30,854 shares of the utilities provider’s stock worth $180,000 after acquiring an additional 2,787 shares during the last quarter. Wellington Management Group LLP bought a new position in TransAlta Corporation in the first quarter worth about $110,000. Vanguard Group Inc. lifted its holdings in TransAlta Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 5,557,096 shares of the utilities provider’s stock worth $32,509,000 after acquiring an additional 220,705 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in TransAlta Corporation by 89.4% in the first quarter. Goldman Sachs Group Inc. now owns 106,435 shares of the utilities provider’s stock worth $623,000 after acquiring an additional 50,235 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in TransAlta Corporation by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 2,831,139 shares of the utilities provider’s stock worth $18,072,000 after acquiring an additional 305,939 shares during the last quarter. 51.05% of the stock is currently owned by hedge funds and other institutional investors.
TransAlta Corporation (NYSE:TAC) traded up $0.02 on Monday, hitting $6.07. The stock had a trading volume of 19,100 shares, compared to its average volume of 35,818. The company has a market capitalization of $1,748.99, a PE ratio of 151.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.07. TransAlta Corporation has a 52 week low of $3.75 and a 52 week high of $6.60.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a dividend of $0.031 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.04%. TransAlta Corporation’s dividend payout ratio (DPR) is presently 260.05%.
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A number of equities analysts have issued reports on TAC shares. Zacks Investment Research raised shares of TransAlta Corporation from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, August 15th. BidaskClub raised TransAlta Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $7.50.
About TransAlta Corporation
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
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