Hexavest Inc. reduced its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 56.5% during the 1st quarter, HoldingsChannel reports. The fund owned 238,358 shares of the utilities provider’s stock after selling 309,566 shares during the period. Hexavest Inc.’s holdings in TransAlta were worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC purchased a new position in TransAlta in the 4th quarter valued at about $62,000. Geode Capital Management LLC purchased a new position in TransAlta in the 4th quarter valued at about $195,000. Jane Street Group LLC lifted its stake in TransAlta by 285.9% in the 3rd quarter. Jane Street Group LLC now owns 51,116 shares of the utilities provider’s stock valued at $288,000 after buying an additional 37,871 shares in the last quarter. Citigroup Inc. lifted its stake in TransAlta by 9.3% in the 4th quarter. Citigroup Inc. now owns 90,938 shares of the utilities provider’s stock valued at $371,000 after buying an additional 7,725 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in TransAlta by 47.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 71,295 shares of the utilities provider’s stock valued at $397,000 after buying an additional 22,825 shares in the last quarter. 47.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of TransAlta stock opened at $7.41 on Thursday. The stock has a market capitalization of $2.10 billion, a P/E ratio of -13.98 and a beta of 1.47. TransAlta Co. has a twelve month low of $3.99 and a twelve month high of $7.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.50.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings results on Wednesday, February 27th. The utilities provider reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.41). The company had revenue of $470.69 million during the quarter. TransAlta had a negative net margin of 8.62% and a negative return on equity of 4.24%. Sell-side analysts forecast that TransAlta Co. will post 0.13 EPS for the current year.

TAC has been the topic of a number of research reports. Zacks Investment Research raised shares of TransAlta from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th. National Bank Financial raised shares of TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 23rd. Credit Suisse Group raised shares of TransAlta from an “underperform” rating to a “neutral” rating in a research note on Monday, March 18th. ValuEngine raised shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Finally, TD Securities raised shares of TransAlta from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. TransAlta has a consensus rating of “Buy” and an average price target of $6.75.

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About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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