TIAA CREF Investment Management LLC lessened its holdings in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 13.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 271,304 shares of the utilities provider’s stock after selling 42,629 shares during the quarter. TIAA CREF Investment Management LLC owned 0.34% of PNM Resources, Inc. (Holding Co.) worth $10,377,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Teachers Advisors LLC increased its position in PNM Resources, Inc. (Holding Co.) by 5.6% during the 2nd quarter. Teachers Advisors LLC now owns 142,272 shares of the utilities provider’s stock worth $5,442,000 after purchasing an additional 7,499 shares in the last quarter. Riverhead Capital Management LLC increased its position in PNM Resources, Inc. (Holding Co.) by 73.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,927 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 2,927 shares in the last quarter. Martingale Asset Management L P acquired a new stake in PNM Resources, Inc. (Holding Co.) during the 2nd quarter worth approximately $758,000. LSV Asset Management acquired a new stake in PNM Resources, Inc. (Holding Co.) during the 2nd quarter worth approximately $244,000. Finally, Neuberger Berman Group LLC acquired a new stake in PNM Resources, Inc. (Holding Co.) during the 2nd quarter worth approximately $209,000. 94.31% of the stock is owned by hedge funds and other institutional investors.

Shares of PNM Resources, Inc. (NYSE PNM) opened at 40.75 on Friday. PNM Resources, Inc. has a 12 month low of $30.95 and a 12 month high of $43.05. The firm has a market cap of $3.25 billion, a P/E ratio of 23.42 and a beta of 0.30. The firm has a 50-day moving average of $41.84 and a 200 day moving average of $39.24.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $362.32 million during the quarter. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that PNM Resources, Inc. will post $1.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, October 30th will be issued a $0.2425 dividend. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.97 annualized dividend and a yield of 2.38%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is currently 55.43%.

A number of analysts recently issued reports on PNM shares. BidaskClub downgraded shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. 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, July 12th. Jefferies Group LLC reissued a “hold” rating and set a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, July 21st. Argus reissued a “buy” rating and set a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, August 11th. Finally, Ladenburg Thalmann Financial Services downgraded shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Friday, August 18th. Three equities research 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 presently has an average rating of “Hold” and a consensus target price of $38.91.

In related 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 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 can be accessed through the SEC website. Also, SVP Ronald N. Darnell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was 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 $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

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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.

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

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