Intact Investment Management Inc. Sells 306,400 Shares of TransAlta Co. (NYSE:TAC)

Intact Investment Management Inc. reduced its stake in TransAlta Co. (NYSE:TAC) (TSE:TA) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,605,850 shares of the utilities provider’s stock after selling 306,400 shares during the period. Intact Investment Management Inc.’s holdings in TransAlta were worth $16,648,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clear Harbor Asset Management LLC purchased a new stake in TransAlta in the second quarter worth about $514,000. Vanguard Group Inc. grew its holdings in TransAlta by 25.3% in the fourth quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock worth $87,242,000 after purchasing an additional 2,116,907 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in TransAlta in the first quarter worth about $3,779,000. Skandinaviska Enskilda Banken AB publ grew its holdings in TransAlta by 122.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock worth $1,015,000 after purchasing an additional 79,000 shares during the period. Finally, Clayton Partners LLC grew its holdings in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock worth $3,244,000 after purchasing an additional 439,013 shares during the period. 59.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TAC has been the topic of a number of recent research reports. Desjardins initiated coverage on shares of TransAlta in a report on Wednesday, October 30th. They issued a “buy” rating on the stock. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th.

TransAlta Trading Down 1.5 %

NYSE:TAC opened at $10.27 on Monday. The company’s 50 day moving average price is $9.83 and its 200-day moving average price is $8.18. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $10.73. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 6.80 and a beta of 0.92.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $425.37 million for the quarter. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. During the same quarter in the previous year, the company earned $0.17 EPS. On average, equities research analysts forecast that TransAlta Co. will post 0.69 earnings per share for the current fiscal year.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a dividend of $0.044 per share. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.71%. TransAlta’s dividend payout ratio (DPR) is 11.26%.

TransAlta Company 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.