HL Financial Services LLC Sells 160 Shares of PNM Resources, Inc. (Holding Co.) (PNM)

HL Financial Services LLC cut its position in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 24,418 shares of the utilities provider’s stock after selling 160 shares during the period. HL Financial Services LLC’s holdings in PNM Resources, Inc. (Holding Co.) were worth $934,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Capstone Asset Management Co. raised its stake in PNM Resources, Inc. (Holding Co.) by 1.5% in the first quarter. Capstone Asset Management Co. now owns 6,956 shares of the utilities provider’s stock worth $257,000 after buying an additional 100 shares during the period. Wedge Capital Management L L P NC raised its stake in PNM Resources, Inc. (Holding Co.) by 0.9% in the first quarter. Wedge Capital Management L L P NC now owns 13,493 shares of the utilities provider’s stock worth $499,000 after buying an additional 121 shares during the period. Meadow Creek Investment Management LLC raised its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after buying an additional 132 shares during the period. Glen Harbor Capital Management LLC raised its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after buying an additional 168 shares during the period. Finally, Elkfork Partners LLC raised its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Elkfork Partners LLC now owns 5,474 shares of the utilities provider’s stock worth $203,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 93.82% of the company’s stock.

Shares of PNM Resources, Inc. (NYSE:PNM) opened at 41.20 on Friday. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $42.20. The firm’s 50-day moving average price is $39.10 and its 200-day moving average price is $37.47. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 23.68 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. The company had revenue of $362.32 million for the quarter. During the same quarter in the prior year, the company posted $0.40 earnings per share. Equities research analysts expect that PNM Resources, Inc. will post $1.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.2425 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.97 annualized dividend and a dividend yield of 2.35%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is currently 55.43%.

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A number of equities research analysts have weighed in on the company. Jefferies Group LLC restated a “hold” rating and set a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Argus restated a “buy” rating and set a $41.40 price objective (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday. BidaskClub upgraded PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Royal Bank Of Canada set a $39.00 price objective on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Mizuho assumed coverage on PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They set an “underperform” rating and a $32.25 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.85.

In other news, SVP Patrick V. Apodaca sold 5,333 shares of the company’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 sale, the senior vice president now directly owns 65,009 shares in the company, valued at approximately $2,628,313.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Norman P. Becker acquired 2,500 shares of the stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the purchase, the director now owns 5,732 shares in the company, valued at approximately $223,433.36. The disclosure for this purchase can be found here. Corporate insiders own 1.26% of the company’s stock.

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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