Lombard Odier Asset Management USA Corp reduced its stake in TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) by 56.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,625 shares of the utilities provider’s stock after selling 96,375 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in TransAlta were worth $944,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rubric Capital Management LP raised its position in shares of TransAlta by 11.5% in the 4th quarter. Rubric Capital Management LP now owns 17,781,325 shares of the utilities provider’s stock valued at $224,756,000 after purchasing an additional 1,832,874 shares during the last quarter. Bank of Montreal Can raised its position in shares of TransAlta by 27.5% in the 4th quarter. Bank of Montreal Can now owns 13,295,335 shares of the utilities provider’s stock valued at $168,163,000 after purchasing an additional 2,870,026 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TransAlta by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,123,833 shares of the utilities provider’s stock valued at $140,694,000 after purchasing an additional 174,449 shares during the last quarter. Oaktree Capital Management LP raised its position in shares of TransAlta by 5.4% in the 3rd quarter. Oaktree Capital Management LP now owns 6,415,253 shares of the utilities provider’s stock valued at $87,648,000 after purchasing an additional 330,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of TransAlta in the 4th quarter valued at approximately $45,298,000. 59.00% of the stock is owned by hedge funds and other institutional investors.
TransAlta Trading Down 0.3%
Shares of TAC opened at $13.54 on Wednesday. TransAlta Corporation has a 52-week low of $10.28 and a 52-week high of $17.88. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 6.61. The firm’s fifty day moving average is $13.14 and its two-hundred day moving average is $13.10. The stock has a market cap of $4.28 billion, a PE ratio of -25.06 and a beta of 0.69.
Wall Street Analysts Forecast Growth
TAC has been the subject of several research analyst reports. TD Cowen initiated coverage on shares of TransAlta in a research report on Wednesday, June 10th. They issued a “buy” rating for the company. Weiss Ratings lowered shares of TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. BMO Capital Markets started coverage on shares of TransAlta in a research report on Wednesday, June 10th. They issued an “outperform” rating for the company. National Bank Financial raised shares of TransAlta from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $24.00 price target on shares of TransAlta in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TransAlta currently has a consensus rating of “Moderate Buy” and an average target price of $22.25.
View Our Latest Report on TransAlta
TransAlta Profile
TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.
The company’s core business activities encompass power generation, asset management and energy trading services.
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