Raymond James Financial Services Advisors Inc. Decreases Stock Holdings in TransAlta Co. (NYSE:TAC)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,372 shares of the utilities provider’s stock after selling 3,351 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in TransAlta were worth $277,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of TransAlta by 1.5% in the third quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock worth $342,110,000 after purchasing an additional 581,454 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of TransAlta by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock worth $72,919,000 after purchasing an additional 82,419 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of TransAlta by 28.6% in the third quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock worth $38,322,000 after purchasing an additional 978,354 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of TransAlta by 0.9% in the third quarter. Toronto Dominion Bank now owns 2,771,982 shares of the utilities provider’s stock worth $24,116,000 after purchasing an additional 24,226 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of TransAlta by 4.0% in the third quarter. Bank of Nova Scotia now owns 787,423 shares of the utilities provider’s stock worth $6,858,000 after purchasing an additional 29,983 shares during the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

TransAlta Stock Up 0.6 %

TransAlta stock opened at $6.49 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 3.55 and a beta of 0.83. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $10.40. The business’s 50-day moving average price is $6.58 and its 200 day moving average price is $7.43. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 4.06.

TransAlta (NYSE:TAC) (TSE:TA) last posted 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). The company had revenue of $624.00 million for the quarter, compared to analyst estimates of $305.79 million. TransAlta had a return on equity of 48.42% and a net margin of 20.05%. The firm’s revenue was down 26.9% on a year-over-year basis. During the same period last year, the business earned ($0.45) earnings per share. As a group, sell-side analysts anticipate that TransAlta Co. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

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

TransAlta 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.