UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in TransAlta Co. (NYSE:TAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in TransAlta Co. (NYSE:TAC) (TSE:TA) by 42.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,491 shares of the utilities provider’s stock after selling 118,227 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.05% of TransAlta worth $1,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 3,951 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the third quarter worth $42,000. Quantbot Technologies LP acquired a new position in shares of TransAlta in the third quarter worth $61,000. Evergreen Capital Management LLC purchased a new stake in shares of TransAlta during the second quarter worth $72,000. Finally, Sage Rhino Capital LLC acquired a new stake in shares of TransAlta in the second quarter valued at $79,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Desjardins reissued a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Finally, Scotiabank raised shares of TransAlta to a “strong-buy” rating in a report on Thursday, December 5th.

TransAlta Stock Performance

Shares of TAC stock opened at $13.91 on Tuesday. TransAlta Co. has a 12 month low of $5.94 and a 12 month high of $13.97. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The company has a market cap of $4.15 billion, a P/E ratio of 37.59 and a beta of 0.91. The firm has a fifty day moving average price of $10.88 and a 200 day moving average price of $9.09.

TransAlta Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 1st will be issued a $0.0423 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.22%. TransAlta’s payout ratio is currently 45.95%.

TransAlta 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.