The Manufacturers Life Insurance Company Sells 116,342 Shares of TransAlta Co. (NYSE:TAC)

The Manufacturers Life Insurance Company cut its stake in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 688,661 shares of the utilities provider's stock after selling 116,342 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.23% of TransAlta worth $9,753,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of TransAlta by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider's stock worth $1,277,000 after purchasing an additional 2,524 shares in the last quarter. Barclays PLC boosted its holdings in TransAlta by 281.5% in the third quarter. Barclays PLC now owns 143,062 shares of the utilities provider's stock worth $1,482,000 after acquiring an additional 105,562 shares in the last quarter. Franklin Resources Inc. grew its stake in TransAlta by 190.6% in the third quarter. Franklin Resources Inc. now owns 147,669 shares of the utilities provider's stock valued at $1,550,000 after acquiring an additional 96,856 shares during the period. Artemis Investment Management LLP bought a new stake in shares of TransAlta during the fourth quarter valued at approximately $7,139,000. Finally, Ballentine Partners LLC acquired a new position in shares of TransAlta during the fourth quarter worth approximately $145,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Stock Performance

Shares of TAC traded up $0.16 on Friday, reaching $8.67. 1,323,619 shares of the company's stock traded hands, compared to its average volume of 1,151,827. The stock's 50 day simple moving average is $9.08 and its two-hundred day simple moving average is $10.89. The stock has a market cap of $2.59 billion, a PE ratio of 21.15 and a beta of 0.71. TransAlta Co. has a 52-week low of $6.78 and a 52-week high of $14.64. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last announced 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 business had revenue of $526.69 million for the quarter, compared to analysts' expectations of $509.31 million. TransAlta had a net margin of 6.38% and a return on equity of 18.47%. On average, analysts forecast that TransAlta Co. will post 0.41 earnings per share for the current fiscal year.

TransAlta Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 1st will be paid a $0.0458 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.11%. This is a boost from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Friday, May 30th. TransAlta's payout ratio is presently 43.90%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cibc World Mkts upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Jefferies Financial Group started coverage on shares of TransAlta in a report on Friday, April 11th. They issued a "hold" rating on the stock. Royal Bank of Canada cut their price target on TransAlta from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday. CIBC raised TransAlta from a "neutral" rating to an "outperformer" rating and lowered their price objective for the stock from $23.00 to $19.50 in a research note on Tuesday, February 18th. Finally, StockNews.com cut TransAlta from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.