QS Investors LLC trimmed its stake in PNM Resources Inc (NYSE:PNM) by 4.1% in the fourth quarter, HoldingsChannel reports. The firm owned 188,672 shares of the utilities provider’s stock after selling 8,123 shares during the quarter. QS Investors LLC’s holdings in PNM Resources were worth $7,632,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PNM Resources by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 1,399 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of PNM Resources in the fourth quarter worth approximately $200,000. Signition LP purchased a new stake in shares of PNM Resources in the fourth quarter worth approximately $223,000. Acadian Asset Management LLC purchased a new stake in shares of PNM Resources in the fourth quarter worth approximately $229,000. Finally, First Washington CORP purchased a new stake in shares of PNM Resources in the fourth quarter worth approximately $231,000. 91.80% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Charles N. Eldred sold 1,500 shares of PNM Resources stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $35.55, for a total value of $53,325.00. Following the transaction, the chief financial officer now owns 115,888 shares of the company’s stock, valued at $4,119,818.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph Don Tarry sold 2,954 shares of PNM Resources stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $35.70, for a total transaction of $105,457.80. Following the completion of the transaction, the vice president now directly owns 13,845 shares in the company, valued at approximately $494,266.50. The disclosure for this sale can be found here. In the last three months, insiders sold 7,616 shares of company stock worth $272,457. Insiders own 1.26% of the company’s stock.
PNM Resources Inc (NYSE:PNM) opened at $36.20 on Tuesday. PNM Resources Inc has a 52-week low of $33.75 and a 52-week high of $46.00. The company has a market cap of $2,843.63, a P/E ratio of 36.20, a PEG ratio of 3.33 and a beta of 0.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.35 and a quick ratio of 0.27.
PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. The company had revenue of $332.61 million for the quarter, compared to analyst estimates of $330.25 million. During the same quarter last year, the firm posted $0.34 earnings per share. sell-side analysts forecast that PNM Resources Inc will post 1.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s dividend payout ratio is 106.00%.
About PNM Resources
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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