Vanguard Personalized Indexing Management LLC Grows Stake in TransAlta Co. (NYSE:TAC)

Vanguard Personalized Indexing Management LLC grew its holdings in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 112.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,683 shares of the utilities provider’s stock after purchasing an additional 18,379 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in TransAlta were worth $246,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TAC. BNP Paribas Financial Markets boosted its holdings in TransAlta by 147.2% in the fourth quarter. BNP Paribas Financial Markets now owns 64,434 shares of the utilities provider’s stock worth $535,000 after acquiring an additional 38,365 shares in the last quarter. Bank of Nova Scotia grew its position in TransAlta by 93.8% during the 4th quarter. Bank of Nova Scotia now owns 1,525,761 shares of the utilities provider’s stock worth $12,688,000 after purchasing an additional 738,338 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in TransAlta during the 4th quarter worth approximately $403,000. 1832 Asset Management L.P. increased its stake in TransAlta by 50.3% during the 4th quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 3,876 shares in the last quarter. Finally, Rubric Capital Management LP raised its holdings in shares of TransAlta by 16.8% in the fourth quarter. Rubric Capital Management LP now owns 5,145,630 shares of the utilities provider’s stock worth $42,760,000 after buying an additional 740,786 shares during the last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Price Performance

Shares of NYSE TAC opened at $10.36 on Monday. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $10.60. The business’s 50 day moving average price is $8.63 and its 200 day moving average price is $7.46. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. The firm has a market cap of $3.09 billion, a P/E ratio of 6.68 and a beta of 0.91.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. The firm had revenue of $425.37 million for the quarter. During the same quarter in the previous year, the company earned $0.17 EPS. On average, sell-side analysts expect that TransAlta Co. will post 0.75 earnings per share for the current year.

TransAlta Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 1st will be issued a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.70%. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date is Friday, August 30th. TransAlta’s dividend payout ratio (DPR) is 10.97%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

TransAlta 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.