The Shareholder of TransAlta (NYSE: TAC) is Buying Shares

By Carrie Williams

On May 20, the Shareholder of TransAlta (TACResearch Report), Canadian Shareholder, bought shares of TAC for $6.12M.

Over the last month, Canadian Shareholder has reported another 3 Buy trades on TAC for a total of $10.81M. This recent transaction increases Canadian Shareholder’s holding in the company by 2% to a total of $184 million.

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TAC’s market cap is $1.66 billion and the company has a P/E ratio of 14.60. The company has a one-year high of $8.50 and a one-year low of $3.63. Currently, TransAlta has an average volume of 229.77K.

Based on 7 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $7.32, reflecting a -24.0% downside. Four different firms, including CIBC and RBC Capital, currently also have a Buy rating on the stock.

The insider sentiment on TransAlta has been positive according to 23 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, and Hydro segments are responsible for constructing, operating and maintaining its electrical generation. The Energy Marketing segment engages in marketing its production through short-term and long-term contracts. The Corporate segment deals with its central financial, legal, administrative, and investing functions. TransAlta was founded in 1909 and is headquartered in Calgary, Canada.