The Manufacturers Life Insurance Company Lowers Stake in TransAlta Co. (NYSE:TAC)

The Manufacturers Life Insurance Company trimmed its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 805,003 shares of the utilities provider’s stock after selling 124,628 shares during the period. The Manufacturers Life Insurance Company owned 0.27% of TransAlta worth $8,351,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake 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 worth $30,000 after acquiring an additional 3,951 shares during the period. Financial Management Professionals Inc. purchased a new stake in TransAlta during the 3rd quarter valued at approximately $42,000. Mather Group LLC. purchased a new position in shares of TransAlta in the second quarter worth $64,000. Evergreen Capital Management LLC bought a new position in shares of TransAlta during the second quarter worth $72,000. Finally, Sage Rhino Capital LLC purchased a new position in TransAlta during the second quarter valued at $79,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TAC. StockNews.com downgraded shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Stock Performance

TransAlta stock opened at $11.53 on Wednesday. The company’s 50-day moving average price is $10.48 and its 200-day moving average price is $8.76. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The company has a market cap of $3.44 billion, a PE ratio of 31.16 and a beta of 0.91. TransAlta Co. has a twelve month low of $5.94 and a twelve month high of $11.71.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be paid a $0.044 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is 48.65%.

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.