TransAlta Co. (NYSE:TAC) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its position in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 19.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,910,668 shares of the utilities provider's stock after selling 707,628 shares during the quarter. National Bank of Canada FI owned about 0.98% of TransAlta worth $30,159,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clear Harbor Asset Management LLC purchased a new stake in TransAlta in the second quarter valued at approximately $514,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of TransAlta by 122.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider's stock worth $1,015,000 after buying an additional 79,000 shares in the last quarter. Clayton Partners LLC increased its stake in shares of TransAlta by 2,293.5% during 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 period. Rubric Capital Management LP raised its holdings in 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 acquiring an additional 935,803 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in TransAlta in the third quarter valued at approximately $518,000. Hedge funds and other institutional investors own 59.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TAC. Desjardins reissued a "hold" rating on shares of TransAlta in a research report on Wednesday, November 6th. StockNews.com lowered TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, Scotiabank upgraded TransAlta to a "strong-buy" rating in a research note on Thursday.

TransAlta Stock Down 3.3 %

TAC traded down $0.45 on Monday, reaching $13.04. The company's stock had a trading volume of 1,745,580 shares, compared to its average volume of 788,267. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $13.97. The stock has a 50 day moving average of $10.67 and a two-hundred day moving average of $8.92. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 35.23 and a beta of 0.91.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a $0.044 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 annualized dividend and a yield of 1.35%. TransAlta's dividend payout ratio is presently 48.65%.

About TransAlta

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.