Man Group plc bought a new stake in TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,419,091 shares of the utilities provider’s stock, valued at approximately $19,626,000. Man Group plc owned approximately 0.45% of TransAlta at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new stake in TransAlta during the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of TransAlta in the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC increased its position in shares of TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 812 shares in the last quarter. Ritter Alpha LP acquired a new stake in shares of TransAlta during the 4th quarter worth about $131,000. Finally, Sage Rhino Capital LLC lifted its holdings in TransAlta by 8.7% during the 1st quarter. Sage Rhino Capital LLC now owns 11,078 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 882 shares during the last quarter. 59.00% of the stock is owned by institutional investors.
TransAlta Price Performance
TransAlta stock opened at $12.49 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $3.95 billion, a P/E ratio of -69.41 and a beta of 0.70. The business has a 50-day moving average of $13.20 and a 200-day moving average of $13.14. TransAlta Corporation has a 1 year low of $11.38 and a 1 year high of $17.88.
TransAlta Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. TransAlta’s payout ratio is presently -111.11%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TransAlta in a report on Friday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a report on Monday, August 3rd. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a report on Thursday, May 7th. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Zacks Research upgraded shares of TransAlta from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.
Check Out Our Latest Stock Report on TAC
TransAlta Company 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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