Public Employees Retirement System of Ohio Makes New $1.81 Million Investment in TransAlta Co. (NYSE:TAC)

Public Employees Retirement System of Ohio bought a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 174,656 shares of the utilities provider’s stock, valued at approximately $1,812,000. Public Employees Retirement System of Ohio owned about 0.06% of TransAlta as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 3,951 shares during the period. Financial Management Professionals Inc. bought a new position in TransAlta in the 3rd quarter worth approximately $42,000. Quantbot Technologies LP purchased a new position in TransAlta in the 3rd quarter valued at approximately $61,000. Evergreen Capital Management LLC bought a new stake in TransAlta during the 2nd quarter valued at $72,000. Finally, Sage Rhino Capital LLC purchased a new stake in shares of TransAlta during the second quarter worth $79,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Trading Down 2.6 %

Shares of TAC stock opened at $13.96 on Thursday. The company has a market capitalization of $4.16 billion, a PE ratio of 37.73 and a beta of 0.91. 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 business’s fifty day moving average is $11.11 and its 200 day moving average is $9.22. TransAlta Co. has a 52-week low of $5.94 and a 52-week high of $14.64.

TransAlta Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be paid a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, February 28th. TransAlta’s dividend payout ratio is currently 45.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TAC shares. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

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.