Quantitative Systematic Strategies LLC Acquires New Stake in TransAlta Co. (NYSE:TAC)

Quantitative Systematic Strategies LLC acquired a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) during the 3rd quarter, HoldingsChannel reports. The firm acquired 26,044 shares of the utilities provider’s stock, valued at approximately $160,000.

A number of other institutional investors have also recently bought and sold shares of the stock. CLARET ASSET MANAGEMENT Corp lifted its stake in TransAlta by 3.0% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 69,697 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 2,011 shares during the last quarter. Aperio Group LLC lifted its stake in TransAlta by 8.7% in the third quarter. Aperio Group LLC now owns 33,248 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 2,650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TransAlta by 16.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,793 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 3,817 shares during the last quarter. UBS Group AG raised its holdings in TransAlta by 2,382.4% during the 2nd quarter. UBS Group AG now owns 5,511 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 5,289 shares during the period. Finally, Prudential Financial Inc. bought a new stake in TransAlta during the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 57.56% of the company’s stock.

A number of brokerages have issued reports on TAC. ValuEngine raised shares of TransAlta from a “hold” rating to a “buy” rating in a report on Friday, November 6th. CIBC boosted their target price on shares of TransAlta from $9.50 to $10.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Finally, Zacks Investment Research cut shares of TransAlta from a “buy” rating to a “hold” rating in a report on Wednesday, November 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.45.

TransAlta stock opened at $6.61 on Friday. The stock has a market cap of $1.81 billion, a P/E ratio of 22.79 and a beta of 1.11. TransAlta Co. has a fifty-two week low of $3.63 and a fifty-two week high of $8.50. The firm’s fifty day moving average price is $6.36 and its 200-day moving average price is $6.17. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 1.15.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Tuesday, December 1st will be issued a $0.0324 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.13 annualized dividend and a dividend yield of 1.96%. This is a boost from TransAlta’s previous quarterly dividend of $0.03. TransAlta’s dividend payout ratio is presently -144.44%.

TransAlta Profile

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, and Energy Marketing segments. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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