AMH Equity Ltd Sells 84,864 Shares of TransAlta Co. (NYSE:TAC)

AMH Equity Ltd cut its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,000 shares of the utilities provider’s stock after selling 84,864 shares during the period. TransAlta makes up about 1.9% of AMH Equity Ltd’s portfolio, making the stock its 14th biggest holding. AMH Equity Ltd’s holdings in TransAlta were worth $2,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in TransAlta by 1.5% during the third quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock valued at $342,110,000 after buying an additional 581,454 shares during the last quarter. Vanguard Group Inc. raised its position in TransAlta by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock valued at $72,919,000 after purchasing an additional 82,419 shares during the period. Mackenzie Financial Corp raised its position in TransAlta by 2.4% during the fourth quarter. Mackenzie Financial Corp now owns 6,370,416 shares of the utilities provider’s stock valued at $53,007,000 after purchasing an additional 149,378 shares during the period. Rubric Capital Management LP raised its position in TransAlta by 28.6% during the third quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock valued at $38,322,000 after purchasing an additional 978,354 shares during the period. Finally, Toronto Dominion Bank raised its position in TransAlta by 0.9% during the third quarter. Toronto Dominion Bank now owns 2,771,982 shares of the utilities provider’s stock valued at $24,116,000 after purchasing an additional 24,226 shares during the period. 59.00% of the stock is owned by institutional investors.

TransAlta Trading Down 2.9 %

Shares of NYSE TAC opened at $6.63 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.82 and a current ratio of 0.91. The business’s 50 day moving average price is $6.56 and its 200-day moving average price is $7.38. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $10.40. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 3.62 and a beta of 0.83.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings results on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share 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 business had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $305.79 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share. The company’s quarterly revenue was down 26.9% compared to the same quarter last year. On average, sell-side analysts expect that TransAlta Co. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.