BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 14,553 Shares of TransAlta Co. (NYSE:TAC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in TransAlta Co. (NYSE:TAC) (TSE:TA) by 10.2% in the third quarter, HoldingsChannel.com reports. The firm owned 127,474 shares of the utilities provider’s stock after selling 14,553 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in TransAlta were worth $1,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TAC. Rubric Capital Management LP increased its stake in TransAlta by 20.0% in the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock worth $58,254,000 after buying an additional 935,803 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of TransAlta during the third quarter worth about $61,000. FMR LLC raised its stake in TransAlta by 9.8% during the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock valued at $47,613,000 after purchasing an additional 408,184 shares during the period. Mirabella Financial Services LLP purchased a new position in TransAlta in the 3rd quarter worth approximately $200,000. Finally, PCJ Investment Counsel Ltd. bought a new position in TransAlta in the 3rd quarter worth approximately $2,573,000. 59.00% of the stock is currently owned by institutional investors.

TransAlta Stock Performance

NYSE TAC opened at $12.79 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. TransAlta Co. has a 1-year low of $5.94 and a 1-year high of $12.89. The business has a 50 day simple moving average of $10.56 and a two-hundred day simple moving average of $8.81. The stock has a market capitalization of $3.82 billion, a PE ratio of 34.57 and a beta of 0.91.

TransAlta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a $0.044 dividend. This represents a $0.18 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s dividend payout ratio is presently 48.65%.

Analyst Ratings Changes

Several research firms have recently issued reports on TAC. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.