AMH Equity Ltd Has $2.08 Million Stock Position in TransAlta Co. (NYSE:TAC)

AMH Equity Ltd reduced its stake in TransAlta Co. (NYSE:TAC) (TSE:TA) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the utilities provider’s stock after selling 84,864 shares during the quarter. TransAlta comprises 1.9% of AMH Equity Ltd’s holdings, making the stock its 14th largest holding. AMH Equity Ltd owned about 0.08% of TransAlta worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of TransAlta by 1.5% during the 3rd quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock worth $342,110,000 after buying an additional 581,454 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TransAlta by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock worth $72,919,000 after buying an additional 82,419 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of TransAlta by 2.4% during the 4th quarter. Mackenzie Financial Corp now owns 6,370,416 shares of the utilities provider’s stock worth $53,007,000 after buying an additional 149,378 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of TransAlta by 28.6% during the 3rd quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock worth $38,322,000 after buying an additional 978,354 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of TransAlta by 0.9% during the 3rd quarter. Toronto Dominion Bank now owns 2,771,982 shares of the utilities provider’s stock worth $24,116,000 after buying an additional 24,226 shares in the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 12th.

TransAlta Stock Down 2.9 %

Shares of NYSE:TAC opened at $6.63 on Friday. TransAlta Co. has a 1 year low of $5.94 and a 1 year high of $10.40. The business has a fifty day moving average price of $6.56 and a two-hundred day moving average price of $7.38. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82. The company has a market capitalization of $2.03 billion, a PE ratio of 3.62 and a beta of 0.83.

TransAlta (NYSE:TAC) (TSE:TA) last issued its earnings results on Friday, February 23rd. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). TransAlta had a return on equity of 48.42% and a net margin of 20.05%. The company had revenue of $624.00 million during the quarter, compared to the consensus estimate of $305.79 million. During the same quarter in the prior year, the business earned ($0.45) EPS. The firm’s revenue for the quarter was down 26.9% compared to the same quarter last year. Analysts forecast that TransAlta Co. will post 0.51 earnings per share for the current year.

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.