Intact Investment Management Inc. Sells 794,400 Shares of TransAlta Corporation (NYSE:TAC)

Intact Investment Management Inc. trimmed its position in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 59.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 549,050 shares of the utilities provider's stock after selling 794,400 shares during the period. Intact Investment Management Inc. owned 0.18% of TransAlta worth $5,125,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. NBC Securities Inc. increased its holdings in TransAlta by 145,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,912 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of TransAlta during the fourth quarter valued at about $147,000. Private Advisor Group LLC bought a new stake in shares of TransAlta during the fourth quarter worth about $150,000. Tobam increased its stake in shares of TransAlta by 239.2% in the first quarter. Tobam now owns 10,943 shares of the utilities provider's stock valued at $102,000 after buying an additional 7,717 shares during the period. Finally, Sage Investment Counsel LLC bought a new position in TransAlta in the 4th quarter valued at approximately $156,000. Institutional investors and hedge funds own 59.00% of the company's stock.

Analysts Set New Price Targets

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

TransAlta Stock Down 1.3%

NYSE TAC traded down $0.14 during mid-day trading on Wednesday, hitting $10.87. The company's stock had a trading volume of 869,400 shares, compared to its average volume of 1,262,834. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -543.23 and a beta of 0.74. The company's 50 day simple moving average is $9.65 and its 200 day simple moving average is $10.73. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 4.19. TransAlta Corporation has a twelve month low of $6.78 and a twelve month high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $526.69 million for 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%. Analysts anticipate that TransAlta Corporation will post 0.41 earnings per share for the current year.

TransAlta Company 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.