Russell Investments Group Ltd. Sells 7,216 Shares of TransAlta Co. (NYSE:TAC)

Russell Investments Group Ltd. lowered its stake in TransAlta Co. (NYSE:TACFree Report) (TSE:TA) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,384 shares of the utilities provider’s stock after selling 7,216 shares during the period. Russell Investments Group Ltd.’s holdings in TransAlta were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TAC. Royal Bank of Canada grew its holdings in TransAlta by 1.5% in the 3rd quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock worth $342,110,000 after acquiring an additional 581,454 shares during the last quarter. Vanguard Group Inc. increased its holdings in TransAlta by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock valued at $72,919,000 after purchasing an additional 82,419 shares during the period. Mackenzie Financial Corp increased its holdings in TransAlta by 2.4% during the 4th quarter. Mackenzie Financial Corp now owns 6,370,416 shares of the utilities provider’s stock valued at $53,007,000 after purchasing an additional 149,378 shares during the period. Rubric Capital Management LP raised its position in TransAlta by 28.6% during the 3rd quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock valued at $38,322,000 after purchasing an additional 978,354 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in TransAlta by 0.9% in the 3rd quarter. Toronto Dominion Bank now owns 2,771,982 shares of the utilities provider’s stock worth $24,116,000 after buying an additional 24,226 shares during the period. Institutional investors own 59.00% of the company’s stock.

TransAlta Price Performance

Shares of TAC stock opened at $7.20 on Wednesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.62 and a current ratio of 0.69. The firm has a market cap of $2.19 billion, a P/E ratio of 4.65 and a beta of 0.83. The business’s 50 day moving average price is $6.61 and its 200-day moving average price is $7.28. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $10.40.

TransAlta (NYSE:TACGet Free Report) (TSE:TA) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). TransAlta had a net margin of 18.70% and a return on equity of 45.47%. The company had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $305.79 million. During the same period in the previous year, the firm posted ($0.45) earnings per share. The firm’s revenue for the quarter was down 26.9% compared to the same quarter last year. On average, equities research analysts anticipate that TransAlta Co. will post 0.72 earnings per share for the current year.

TransAlta Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be paid a $0.0438 dividend. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio is presently 11.61%.

TransAlta Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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