TD Asset Management Inc. lessened its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,557,176 shares of the utilities provider’s stock after selling 204,535 shares during the quarter. TD Asset Management Inc. owned approximately 1.94% of TransAlta worth $31,256,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TAC. JPMorgan Chase & Co. raised its stake in shares of TransAlta by 3,708.0% during the 1st quarter. JPMorgan Chase & Co. now owns 35,567 shares of the utilities provider’s stock worth $194,000 after buying an additional 34,633 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of TransAlta during the 1st quarter worth $182,000. Addenda Capital Inc. raised its stake in shares of TransAlta by 100.0% during the 2nd quarter. Addenda Capital Inc. now owns 45,000 shares of the utilities provider’s stock worth $237,000 after buying an additional 22,500 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of TransAlta during the 2nd quarter worth $2,500,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TransAlta by 32.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 693,965 shares of the utilities provider’s stock worth $3,482,000 after buying an additional 171,500 shares during the last quarter. 56.20% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. ValuEngine raised TransAlta from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research downgraded TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.25.
NYSE:TAC opened at $5.32 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.29 and a current ratio of 1.62. TransAlta Co. has a 52-week low of $4.75 and a 52-week high of $6.35.
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TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.
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