Boston Partners lessened its position in shares of PNM Resources (NYSE:PNM) by 12.8% during the first quarter, Holdings Channel reports. The institutional investor owned 61,025 shares of the utilities provider’s stock after selling 8,950 shares during the quarter. Boston Partners’ holdings in PNM Resources were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PNM Resources by 41.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,399 shares during the last quarter. Parametrica Management Ltd purchased a new position in PNM Resources during the 4th quarter worth approximately $200,000. Zeke Capital Advisors LLC purchased a new position in PNM Resources during the 4th quarter worth approximately $201,000. Sciencast Management LP purchased a new position in PNM Resources during the 4th quarter worth approximately $209,000. Finally, Vident Investment Advisory LLC purchased a new position in PNM Resources during the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Shares of PNM Resources opened at $37.90 on Friday, Marketbeat.com reports. PNM Resources has a twelve month low of $33.75 and a twelve month high of $46.00. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 3.95 and a beta of 0.25. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 1.30.
PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. PNM Resources had a return on equity of 8.41% and a net margin of 5.03%. The company had revenue of $332.61 million for the quarter, compared to the consensus estimate of $330.25 million. During the same period last year, the business posted $0.34 EPS. equities analysts expect that PNM Resources will post 1.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 2nd were paid a $0.265 dividend. The ex-dividend date was Tuesday, May 1st. This represents a $1.06 annualized dividend and a dividend yield of 2.80%. PNM Resources’s dividend payout ratio (DPR) is currently 54.64%.
A number of research firms recently issued reports on PNM. SunTrust Banks set a $34.00 price target on PNM Resources and gave the stock a “hold” rating in a research note on Monday, February 12th. Mizuho upgraded PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price target on the stock in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Wells Fargo set a $38.00 price target on PNM Resources and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada restated a “hold” rating and set a $40.00 price target on shares of PNM Resources in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.91.
In other PNM Resources news, CFO Charles N. Eldred sold 1,500 shares of PNM Resources stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $35.55, for a total value of $53,325.00. Following the transaction, the chief financial officer now directly owns 115,888 shares in the company, valued at approximately $4,119,818.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Norman P. Becker bought 1,250 shares of the stock in a transaction on Tuesday, May 8th. The stock was bought at an average price of $38.50 per share, for a total transaction of $48,125.00. The disclosure for this purchase can be found here. Insiders sold a total of 7,616 shares of company stock worth $272,457 over the last quarter. Company insiders own 1.26% of the company’s stock.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.
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