The Manufacturers Life Insurance Company Reduces Position in TransAlta Co. (NYSE:TAC)

The Manufacturers Life Insurance Company trimmed its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 13.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 805,003 shares of the utilities provider’s stock after selling 124,628 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TransAlta were worth $8,351,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TAC. Mirabella Financial Services LLP bought a new position in shares of TransAlta during the third quarter valued at approximately $200,000. PCJ Investment Counsel Ltd. bought a new stake in shares of TransAlta during the third quarter worth $2,573,000. Metis Global Partners LLC purchased a new stake in shares of TransAlta during the third quarter valued at $360,000. Oppenheimer & Co. Inc. bought a new position in shares of TransAlta in the third quarter worth about $194,000. Finally, Entropy Technologies LP purchased a new position in TransAlta in the 3rd quarter worth about $130,000. Institutional investors own 59.00% of the company’s stock.

TransAlta Trading Down 0.5 %

NYSE TAC opened at $11.53 on Wednesday. The company’s 50-day simple moving average is $10.48 and its two-hundred day simple moving average is $8.76. TransAlta Co. has a one year low of $5.94 and a one year high of $11.71. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 31.16 and a beta of 0.91. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74.

TransAlta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a dividend of $0.044 per share. The ex-dividend date is Friday, November 29th. This represents a $0.18 annualized dividend and a yield of 1.53%. TransAlta’s dividend payout ratio (DPR) is presently 48.65%.

Analyst Ratings Changes

Several research firms have issued reports on TAC. Desjardins reissued a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th.

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.