Charles Schwab Investment Management Inc. Reduces Position in TransAlta Co. (NYSE:TAC)

Charles Schwab Investment Management Inc. decreased its holdings in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 4.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 914,238 shares of the utilities provider's stock after selling 45,222 shares during the period. Charles Schwab Investment Management Inc. owned 0.31% of TransAlta worth $9,487,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in TransAlta by 9.0% during the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider's stock valued at $25,267,000 after purchasing an additional 299,594 shares in the last quarter. Intact Investment Management Inc. increased its position in shares of TransAlta by 5.6% during the second quarter. Intact Investment Management Inc. now owns 1,912,250 shares of the utilities provider's stock valued at $13,557,000 after acquiring an additional 101,200 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in TransAlta by 22.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider's stock worth $6,582,000 after acquiring an additional 169,219 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in TransAlta by 8.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 640,828 shares of the utilities provider's stock valued at $4,543,000 after acquiring an additional 52,328 shares in the last quarter. Finally, Clayton Partners LLC boosted its stake in TransAlta by 2,293.5% during the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider's stock valued at $3,244,000 after purchasing an additional 439,013 shares during the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

TransAlta Stock Performance

NYSE:TAC traded up $0.08 during trading hours on Tuesday, reaching $13.11. The company had a trading volume of 1,175,978 shares, compared to its average volume of 789,577. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $13.97. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 35.43 and a beta of 0.91. The firm's 50 day moving average price is $10.67 and its 200-day moving average price is $8.92.

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 given a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 annualized dividend and a yield of 1.34%. TransAlta's payout ratio is 48.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TAC shares. StockNews.com downgraded TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 6th. Scotiabank raised TransAlta to a "strong-buy" rating in a research report on Thursday, December 5th. Finally, Desjardins reaffirmed a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th.

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.