UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in TransAlta Co. (NYSE:TAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 42.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 163,491 shares of the utilities provider's stock after selling 118,227 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.05% of TransAlta worth $1,694,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of TransAlta by 122.7% in the second 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 boosted its stake in 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 last quarter. Rubric Capital Management LP grew its holdings in TransAlta by 20.0% in the 3rd 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 in the last quarter. FMR LLC increased its stake in shares of TransAlta by 9.8% in the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider's stock worth $47,613,000 after acquiring an additional 408,184 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of 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 worth $25,267,000 after acquiring an additional 299,594 shares during the period. 59.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Desjardins reissued a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th. StockNews.com cut shares of TransAlta from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, Scotiabank raised TransAlta to a "strong-buy" rating in a research note on Thursday, December 5th.

TransAlta Stock Up 3.1 %

NYSE:TAC traded up $0.43 during trading hours on Tuesday, hitting $14.34. The company's stock had a trading volume of 2,060,730 shares, compared to its average volume of 798,703. The stock has a market capitalization of $4.27 billion, a P/E ratio of 37.14 and a beta of 0.91. The stock has a fifty day moving average of $10.95 and a 200-day moving average of $9.14. 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 $14.39.

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 $0.0423 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 annualized dividend and a yield of 1.18%. TransAlta's dividend payout ratio is presently 45.95%.

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.