TD Asset Management Inc. Cuts Stake in TransAlta Co. (TAC)

TD Asset Management Inc. lessened its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,557,176 shares of the utilities provider’s stock after selling 204,535 shares during the quarter. TD Asset Management Inc. owned approximately 1.94% of TransAlta worth $31,256,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TAC. JPMorgan Chase & Co. raised its stake in shares of TransAlta by 3,708.0% during the 1st quarter. JPMorgan Chase & Co. now owns 35,567 shares of the utilities provider’s stock worth $194,000 after buying an additional 34,633 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of TransAlta during the 1st quarter worth $182,000. Addenda Capital Inc. raised its stake in shares of TransAlta by 100.0% during the 2nd quarter. Addenda Capital Inc. now owns 45,000 shares of the utilities provider’s stock worth $237,000 after buying an additional 22,500 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of TransAlta during the 2nd quarter worth $2,500,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TransAlta by 32.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 693,965 shares of the utilities provider’s stock worth $3,482,000 after buying an additional 171,500 shares during the last quarter. 56.20% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. ValuEngine raised TransAlta from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research downgraded TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.25.

NYSE:TAC opened at $5.32 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.29 and a current ratio of 1.62. TransAlta Co. has a 52-week low of $4.75 and a 52-week high of $6.35.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://sportsperspectives.com/2018/11/10/td-asset-management-inc-cuts-stake-in-transalta-co-tac.html.

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.

Further Reading: What are the Different Types of Leveraged Buyouts?

Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

Receive News & Ratings for TransAlta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply