California State Teachers Retirement System Has $5.41 Million Holdings in PNM Resources, Inc. (Holding Co.) (PNM)

California State Teachers Retirement System trimmed its position in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,481 shares of the utilities provider’s stock after selling 16,092 shares during the quarter. California State Teachers Retirement System owned about 0.18% of PNM Resources, Inc. (Holding Co.) worth $5,412,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PNM. IFP Advisors Inc lifted its position in shares of PNM Resources, Inc. (Holding Co.) by 42.2% during the second quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,260 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of PNM Resources, Inc. (Holding Co.) by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 1,840 shares during the last quarter. US Bancorp DE raised its position in shares of PNM Resources, Inc. (Holding Co.) by 23.7% in the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 905 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) in the 1st quarter valued at approximately $207,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of PNM Resources, Inc. (Holding Co.) in the 2nd quarter valued at approximately $209,000. 94.47% of the stock is owned by institutional investors and hedge funds.

In other PNM Resources, Inc. (Holding Co.) news, SVP Patrick V. Apodaca sold 5,333 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of the sale, the senior vice president now owns 65,009 shares in the company, valued at $2,628,313.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ronald N. Darnell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $40.97, for a total value of $204,850.00. Following the completion of the sale, the senior vice president now owns 24,053 shares of the company’s stock, valued at approximately $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

PNM has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, July 21st. Mizuho reaffirmed a “sell” rating and issued a $35.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research report on Monday. Ladenburg Thalmann Financial Services lowered shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Friday, August 18th. BidaskClub raised shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $38.99.

PNM Resources, Inc. (PNM) opened at 42.90 on Tuesday. The firm has a market cap of $3.42 billion, a P/E ratio of 24.66 and a beta of 0.30. The company has a 50-day moving average of $41.56 and a 200 day moving average of $39.79. PNM Resources, Inc. has a one year low of $30.95 and a one year high of $43.40.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. PNM Resources, Inc. (Holding Co.) had a return on equity of 9.27% and a net margin of 11.27%. The company had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, October 30th will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is currently 48.74%.

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About PNM Resources, Inc. (Holding Co.)

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

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Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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