Lazard Asset Management LLC Acquires 4,433 Shares of TransAlta Co. (NYSE:TAC)

Lazard Asset Management LLC lifted its holdings in TransAlta Co. (NYSE:TACGet Rating) (TSE:TA) by 61.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,683 shares of the utilities provider’s stock after buying an additional 4,433 shares during the period. Lazard Asset Management LLC’s holdings in TransAlta were worth $133,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TAC. Marquard & Bahls AG increased its holdings in shares of TransAlta by 32.4% in the 2nd quarter. Marquard & Bahls AG now owns 15,033,000 shares of the utilities provider’s stock worth $171,376,000 after buying an additional 3,681,100 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of TransAlta by 48.5% during the 1st quarter. Mackenzie Financial Corp now owns 4,750,909 shares of the utilities provider’s stock worth $49,252,000 after purchasing an additional 1,551,346 shares during the period. Royal Bank of Canada boosted its stake in shares of TransAlta by 1.9% during the 1st quarter. Royal Bank of Canada now owns 43,966,549 shares of the utilities provider’s stock worth $455,494,000 after purchasing an additional 812,221 shares during the period. PCJ Investment Counsel Ltd. purchased a new position in shares of TransAlta during the 2nd quarter worth about $7,129,000. Finally, NewGen Asset Management Ltd boosted its stake in shares of TransAlta by 60.4% during the 2nd quarter. NewGen Asset Management Ltd now owns 1,447,100 shares of the utilities provider’s stock worth $16,515,000 after purchasing an additional 545,000 shares during the period. 62.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TAC shares. National Bank Financial lifted their price target on shares of TransAlta from C$13.00 to C$14.00 in a research note on Wednesday, November 9th. Credit Suisse Group lifted their price target on shares of TransAlta from C$15.00 to C$17.00 in a research note on Wednesday, November 9th. Scotiabank lifted their price target on shares of TransAlta from C$15.50 to C$16.00 in a research note on Wednesday, November 9th. StockNews.com raised shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 14th. Finally, TheStreet cut shares of TransAlta from a “c-” rating to a “d+” rating in a research report on Wednesday, August 17th.

TransAlta Price Performance

Shares of TAC opened at $9.23 on Tuesday. The company has a 50 day moving average price of $8.89 and a 200-day moving average price of $10.14. TransAlta Co. has a fifty-two week low of $7.55 and a fifty-two week high of $12.13. The stock has a market capitalization of $2.49 billion, a PE ratio of 38.46 and a beta of 0.97. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.03 and a current ratio of 1.09.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 1st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, November 30th. This is a boost from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio is presently 62.50%.

About TransAlta

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TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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