Bank of New York Mellon Corp Continues to Hold Position in TransAlta Corporation (NYSE:TAC)
Bank of New York Mellon Corp maintained its stake in TransAlta Corporation (NYSE:TAC) (TSE:TA) during the first quarter, Holdings Channel reports. The institutional investor owned 28,741 shares of the utilities provider’s stock at the end of the first quarter. Bank of New York Mellon Corp’s holdings in TransAlta Corporation were worth $168,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TAC. Canada Pension Plan Investment Board boosted its position in TransAlta Corporation by 6.5% in the first quarter. Canada Pension Plan Investment Board now owns 2,525,200 shares of the utilities provider’s stock worth $14,807,000 after buying an additional 153,800 shares in the last quarter. Acadian Asset Management LLC boosted its position in TransAlta Corporation by 326.7% in the first quarter. Acadian Asset Management LLC now owns 1,241,200 shares of the utilities provider’s stock worth $7,279,000 after buying an additional 950,300 shares in the last quarter. James Investment Research Inc. bought a new position in TransAlta Corporation during the first quarter worth about $1,637,000. Quadrature Capital Ltd bought a new position in TransAlta Corporation during the fourth quarter worth about $256,000. Finally, Shell Asset Management Co. boosted its position in TransAlta Corporation by 13.0% in the first quarter. Shell Asset Management Co. now owns 27,800 shares of the utilities provider’s stock worth $217,000 after buying an additional 3,200 shares in the last quarter. 50.89% of the stock is owned by institutional investors.
TransAlta Corporation (NYSE:TAC) traded up 1.20% on Friday, hitting $6.35. 79,246 shares of the company’s stock were exchanged. The company has a market cap of $1.91 billion, a PE ratio of 76.51 and a beta of 0.71. The company’s 50-day moving average price is $6.35 and its 200-day moving average price is $5.76. TransAlta Corporation has a 12-month low of $3.75 and a 12-month high of $6.60.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a $0.0314 dividend. This is an increase from TransAlta Corporation’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.13 annualized dividend and a yield of 2.00%. TransAlta Corporation’s dividend payout ratio is 80.01%.
TAC has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of TransAlta Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, May 12th. TheStreet cut shares of TransAlta Corporation from a “c” rating to a “d+” rating in a report on Friday, May 5th. Finally, BidaskClub raised shares of TransAlta Corporation from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.83.
TransAlta Corporation Company Profile
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
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