Clear Harbor Asset Management LLC Cuts Stock Position in TransAlta Co. (NYSE:TAC)

Clear Harbor Asset Management LLC lessened its stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,900 shares of the utilities provider’s stock after selling 16,700 shares during the period. Clear Harbor Asset Management LLC’s holdings in TransAlta were worth $579,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TAC. Vanguard Group Inc. increased its holdings in shares of TransAlta by 25.3% during the fourth quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock valued at $87,242,000 after acquiring an additional 2,116,907 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in TransAlta during the 1st quarter valued at about $3,779,000. Skandinaviska Enskilda Banken AB publ increased its stake in TransAlta by 122.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock valued at $1,015,000 after purchasing an additional 79,000 shares in the last quarter. Clayton Partners LLC raised its holdings in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock worth $3,244,000 after buying an additional 439,013 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock worth $4,131,000 after buying an additional 269,444 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Stock Up 0.1 %

TAC stock opened at $10.16 on Monday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 6.73 and a beta of 0.92. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. TransAlta Co. has a 1-year low of $5.94 and a 1-year high of $10.73. The business has a fifty day moving average price of $9.65 and a 200-day moving average price of $8.03.

TransAlta (NYSE:TAC) (TSE:TA) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. The business had revenue of $425.37 million for the quarter. During the same quarter in the prior year, the company posted $0.17 EPS. Equities analysts forecast that TransAlta Co. will post 0.69 earnings per share for the current fiscal year.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be issued a $0.044 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio is 11.26%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

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.