PNC Financial Services Group Inc. Invests $33,000 in TransAlta Co. (NYSE:TAC)

PNC Financial Services Group Inc. bought a new position in TransAlta Co. (NYSE:TACFree Report) (TSE:TA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,010 shares of the utilities provider’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in TransAlta by 2.4% in the fourth quarter. Mackenzie Financial Corp now owns 6,370,416 shares of the utilities provider’s stock valued at $53,007,000 after purchasing an additional 149,378 shares during the last quarter. Bank of Nova Scotia boosted its holdings in TransAlta by 93.8% in the fourth quarter. Bank of Nova Scotia now owns 1,525,761 shares of the utilities provider’s stock valued at $12,688,000 after purchasing an additional 738,338 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in TransAlta by 76.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,387,290 shares of the utilities provider’s stock valued at $36,458,000 after purchasing an additional 1,899,671 shares during the last quarter. Vanguard Group Inc. boosted its holdings in TransAlta by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock valued at $72,919,000 after purchasing an additional 82,419 shares during the last quarter. Finally, Rubric Capital Management LP boosted its holdings in TransAlta by 16.8% in the fourth quarter. Rubric Capital Management LP now owns 5,145,630 shares of the utilities provider’s stock valued at $42,760,000 after purchasing an additional 740,786 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Trading Up 0.3 %

Shares of TAC opened at $6.94 on Tuesday. The company has a market capitalization of $2.10 billion, a P/E ratio of 4.48 and a beta of 0.89. TransAlta Co. has a one year low of $5.94 and a one year high of $10.40. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.62 and a current ratio of 0.69. The stock has a 50-day moving average price of $7.07 and a 200 day moving average price of $7.04.

TransAlta (NYSE:TACGet Free Report) (TSE:TA) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.40. TransAlta had a return on equity of 45.47% and a net margin of 18.70%. The firm had revenue of $702.47 million during the quarter. Sell-side analysts forecast that TransAlta Co. will post 0.72 EPS for the current fiscal year.

TransAlta Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Saturday, June 1st were paid a dividend of $0.0438 per share. The ex-dividend date was Friday, May 31st. This represents a $0.18 annualized dividend and a yield of 2.52%. This is a boost from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio is presently 10.97%.

TransAlta Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding TAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TransAlta Co. (NYSE:TACFree Report) (TSE:TA).

Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

Receive News & Ratings for TransAlta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta and related companies with MarketBeat.com's FREE daily email newsletter.