TransAlta Corporation (TAC) Stake Increased by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. grew its holdings in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 2,971.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,269,002 shares of the utilities provider’s stock after buying an additional 3,162,567 shares during the period. Goldman Sachs Group Inc. owned 1.14% of TransAlta Corporation worth $20,922,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. lifted its position in shares of TransAlta Corporation by 6.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 26,375 shares of the utilities provider’s stock valued at $169,000 after buying an additional 1,502 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of TransAlta Corporation by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 31,629 shares of the utilities provider’s stock valued at $202,000 after buying an additional 775 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of TransAlta Corporation by 5.4% in the second quarter. Vanguard Group Inc. now owns 5,855,411 shares of the utilities provider’s stock valued at $37,475,000 after buying an additional 298,315 shares during the last quarter. Sentry Investments Corp. acquired a new stake in shares of TransAlta Corporation in the second quarter valued at approximately $8,986,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TransAlta Corporation by 21.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,818 shares of the utilities provider’s stock valued at $146,000 after buying an additional 4,088 shares during the last quarter. 50.62% of the stock is owned by institutional investors.
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Shares of TransAlta Corporation (NYSE TAC) opened at 5.95 on Friday. The stock has a 50 day moving average price of $6.06 and a 200-day moving average price of $5.91. TransAlta Corporation has a 52-week low of $3.75 and a 52-week high of $6.60. The firm has a market capitalization of $1.71 billion, a PE ratio of 66.85 and a beta of 0.71.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 1st were issued a $0.0314 dividend. The ex-dividend date was Wednesday, August 30th. This is a positive change from TransAlta Corporation’s previous quarterly dividend of $0.03. This represents a $0.13 annualized dividend and a dividend yield of 2.11%. TransAlta Corporation’s dividend payout ratio is currently 144.46%.
A number of analysts have recently issued reports on TAC shares. Zacks Investment Research raised TransAlta Corporation from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday, August 15th. BidaskClub cut TransAlta Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Six analysts have rated the stock with a hold rating, TransAlta Corporation has an average rating of “Hold” and an average price target of $7.00.
TransAlta Corporation Company Profile
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
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