Cibc World Market Inc. Sells 556,828 Shares of TransAlta Co. (NYSE:TAC)

Cibc World Market Inc. lowered its position in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,782,617 shares of the utilities provider's stock after selling 556,828 shares during the quarter. Cibc World Market Inc. owned approximately 0.60% of TransAlta worth $25,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Yaupon Capital Management LP grew its holdings in TransAlta by 69.9% during the third quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider's stock worth $27,840,000 after purchasing an additional 1,105,191 shares during the period. Rubric Capital Management LP lifted its position in shares of TransAlta by 20.0% in the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider's stock valued at $58,254,000 after buying an additional 935,803 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of TransAlta during the 4th quarter worth approximately $7,139,000. Potrero Capital Research LLC acquired a new position in shares of TransAlta during the 3rd quarter worth approximately $5,088,000. Finally, FMR LLC raised its stake in TransAlta by 9.8% in the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider's stock valued at $47,613,000 after acquiring an additional 408,184 shares during the period. Institutional investors own 59.00% of the company's stock.

TransAlta Stock Performance

TransAlta stock traded up $0.03 during midday trading on Tuesday, hitting $11.11. The company's stock had a trading volume of 725,084 shares, compared to its average volume of 1,922,355. The company has a 50-day moving average price of $13.07 and a two-hundred day moving average price of $10.66. TransAlta Co. has a 1-year low of $5.94 and a 1-year high of $14.64. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 30.02 and a beta of 0.83. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67.

TransAlta Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be paid a dividend of $0.0423 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 dividend on an annualized basis and a yield of 1.52%. TransAlta's dividend payout ratio (DPR) is presently 48.65%.

Analysts Set New Price Targets

TAC has been the topic of several research reports. CIBC downgraded shares of TransAlta from a "sector outperform" rating to a "neutral" rating in a report on Wednesday, January 8th. Cibc World Mkts cut shares of TransAlta from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. StockNews.com upgraded TransAlta from a "hold" rating to a "buy" rating in a report on Friday. Scotiabank lowered TransAlta from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, January 23rd. Finally, Desjardins reaffirmed a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, TransAlta currently has an average rating of "Hold".

TransAlta Company 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.