Artemis Investment Management LLP Increases Stock Position in TransAlta Corporation (NYSE:TAC)

Artemis Investment Management LLP boosted its stake in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 86.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 942,962 shares of the utilities provider's stock after purchasing an additional 437,511 shares during the quarter. Artemis Investment Management LLP owned about 0.32% of TransAlta worth $8,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of TransAlta by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 10,229,823 shares of the utilities provider's stock worth $144,680,000 after purchasing an additional 150,554 shares during the last quarter. Bank of Montreal Can increased its stake in TransAlta by 8.4% in the 4th quarter. Bank of Montreal Can now owns 9,290,110 shares of the utilities provider's stock worth $131,222,000 after acquiring an additional 716,139 shares during the last quarter. FMR LLC raised its holdings in shares of TransAlta by 79.7% during the 4th quarter. FMR LLC now owns 8,255,923 shares of the utilities provider's stock worth $116,764,000 after acquiring an additional 3,662,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of TransAlta by 638.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock worth $112,936,000 after acquiring an additional 6,913,431 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of TransAlta by 280.1% during the 4th quarter. Bank of America Corp DE now owns 5,385,966 shares of the utilities provider's stock valued at $76,211,000 after acquiring an additional 3,969,037 shares during the last quarter. Institutional investors own 59.00% of the company's stock.

TransAlta Trading Down 0.8%

TAC traded down $0.09 during trading on Tuesday, reaching $10.71. The company had a trading volume of 251,306 shares, compared to its average volume of 1,265,831. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 4.19. The business has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $10.65. The stock has a market cap of $3.17 billion, a P/E ratio of -534.48 and a beta of 0.74. TransAlta Corporation has a 52 week low of $6.78 and a 52 week high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $526.69 million during the quarter, compared to the consensus estimate of $509.31 million. TransAlta had a negative return on equity of 1.64% and a net margin of 0.01%. On average, equities analysts anticipate that TransAlta Corporation will post 0.41 EPS for the current fiscal year.

Analyst Ratings Changes

TAC has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of TransAlta from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Royal Bank Of Canada reduced their target price on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of TransAlta from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.75.

About TransAlta

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.