Allianz Asset Management GmbH Sells 381,147 Shares of TransAlta Corporation $TAC

Allianz Asset Management GmbH reduced its holdings in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 96.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,286 shares of the utilities provider’s stock after selling 381,147 shares during the quarter. Allianz Asset Management GmbH’s holdings in TransAlta were worth $182,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. AustralianSuper Pty Ltd bought a new position in TransAlta in the 3rd quarter valued at approximately $36,395,000. TD Waterhouse Canada Inc. increased its holdings in shares of TransAlta by 19.5% during the second quarter. TD Waterhouse Canada Inc. now owns 70,554 shares of the utilities provider’s stock worth $754,000 after buying an additional 11,532 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of TransAlta in the 2nd quarter valued at $1,039,000. Timelo Investment Management Inc. bought a new position in shares of TransAlta in the 2nd quarter valued at $647,000. Finally, CenterBook Partners LP acquired a new stake in shares of TransAlta during the 2nd quarter valued at $8,367,000. 59.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TAC shares. Natl Bk Canada cut TransAlta from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TransAlta in a report on Monday, October 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of TransAlta in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TransAlta in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of TransAlta from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.88.

TransAlta Stock Up 1.8%

Shares of NYSE TAC opened at $13.59 on Monday. The company’s 50 day moving average price is $12.98 and its 200-day moving average price is $13.72. The company has a debt-to-equity ratio of 5.22, a quick ratio of 0.71 and a current ratio of 0.79. TransAlta Corporation has a 52-week low of $7.82 and a 52-week high of $17.88. The company has a market capitalization of $4.03 billion, a P/E ratio of -28.30 and a beta of 0.78.

TransAlta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Sunday, March 1st will be given a $0.065 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.26 annualized dividend and a dividend yield of 1.9%. TransAlta’s dividend payout ratio (DPR) is -39.58%.

TransAlta Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.