Todays Report: Today, Advisors Asset Management Inc. cuts position of TransAlta Corp. (TAC)

Today, Advisors Asset Management Inc. cuts position of TransAlta Corp. (TAC)

Advisors Asset Management Inc. lowered its position in shares of TransAlta Corp. (NYSE:TAC) (TSE:TA) by 27.9% during the third quarter, Holdings Channel reports. The institutional investor owned 200,927 shares of the company’s stock after selling 77,900 shares during the period. Advisors Asset Management Inc. owned about 0.07% of TransAlta Corp. worth $894,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vertex One Asset Management Inc. boosted its stake in TransAlta Corp. by 57.9% in the second quarter. Vertex One Asset Management Inc. now owns 6,466,600 shares of the company’s stock worth $33,461,000 after buying an additional 2,370,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TransAlta Corp. by 14.4% in the second quarter. Vanguard Group Inc. now owns 4,965,764 shares of the company’s stock valued at $25,922,000 after buying an additional 623,815 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of TransAlta Corp. during the second quarter valued at about $25,054,000. Credit Suisse AG boosted its stake in shares of TransAlta Corp. by 323.7% in the second quarter. Credit Suisse AG now owns 2,528,347 shares of the company’s stock valued at $13,198,000 after buying an additional 1,931,685 shares during the period. Finally, Scotia Capital Inc. boosted its stake in shares of TransAlta Corp. by 10.3% in the second quarter. Scotia Capital Inc. now owns 1,077,017 shares of the company’s stock valued at $5,602,000 after buying an additional 100,134 shares during the period. 40.92% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Corp. (NYSE:TAC) traded up 2.41% on Thursday, reaching $4.25. The company had a trading volume of 44,225 shares. The firm has a market capitalization of $1.22 billion, a P/E ratio of 33.46 and a beta of 0.59. The company’s 50-day moving average price is $4.30 and its 200 day moving average price is $4.70. TransAlta Corp. has a 1-year low of $2.54 and a 1-year high of $5.62.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 1st will be issued a $0.0301 dividend. This represents a $0.12 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, November 29th. TransAlta Corp.’s payout ratio is 85.72%.

Several equities research analysts have recently issued reports on the company. RBC Capital Markets raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 target price on the stock in a report on Monday, November 7th. Zacks Investment Research raised TransAlta Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Friday, August 12th. Royal Bank Of Canada raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 target price on the stock in a report on Monday, November 7th. Finally, Scotiabank raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. TransAlta Corp. has an average rating of “Hold” and an average price target of $5.56.

TransAlta Corp. Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,730 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. TransAlta is organized into seven segments: Canadian Coal, U.S.

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