Quantbot Technologies LP Makes New Investment in TransAlta Co. (NYSE:TAC)

Quantbot Technologies LP purchased a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,929 shares of the utilities provider’s stock, valued at approximately $61,000.

A number of other institutional investors also recently modified their holdings of TAC. FMR LLC increased its position in shares of TransAlta by 9.8% during the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock valued at $47,613,000 after buying an additional 408,184 shares during the period. National Bank of Canada FI lifted its stake in TransAlta by 9.0% in the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock worth $25,267,000 after purchasing an additional 299,594 shares in the last quarter. Intact Investment Management Inc. lifted its stake in TransAlta by 5.6% in the 2nd quarter. Intact Investment Management Inc. now owns 1,912,250 shares of the utilities provider’s stock worth $13,557,000 after purchasing an additional 101,200 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in TransAlta by 22.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider’s stock valued at $6,582,000 after purchasing an additional 169,219 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of TransAlta by 8.9% in the second quarter. Jupiter Asset Management Ltd. now owns 640,828 shares of the utilities provider’s stock worth $4,543,000 after purchasing an additional 52,328 shares during the period. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

TransAlta Stock Performance

TransAlta stock opened at $13.48 on Friday. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $13.53. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The stock has a market cap of $4.02 billion, a P/E ratio of 36.43 and a beta of 0.91. The firm’s fifty day moving average price is $10.62 and its 200-day moving average price is $8.86.

TransAlta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is currently 45.95%.

Analyst Ratings Changes

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

About TransAlta

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.