State Board of Administration of Florida Retirement System Cuts Holdings in PNM Resources Inc (PNM)
State Board of Administration of Florida Retirement System reduced its position in shares of PNM Resources Inc (NYSE:PNM) by 5.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 62,450 shares of the utilities provider’s stock after selling 3,330 shares during the period. State Board of Administration of Florida Retirement System’s holdings in PNM Resources were worth $2,956,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of PNM. Oregon Public Employees Retirement Fund boosted its holdings in shares of PNM Resources by 4,009.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,265,842 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of PNM Resources during the 1st quarter worth approximately $69,000. IFP Advisors Inc boosted its holdings in shares of PNM Resources by 32.9% during the 4th quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 426 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of PNM Resources by 1,004.6% during the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 1,979 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of PNM Resources during the 1st quarter worth approximately $123,000. Institutional investors own 88.41% of the company’s stock.
In related news, VP Joseph Don Tarry sold 1,092 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $44.89, for a total value of $49,019.88. Following the transaction, the vice president now directly owns 11,882 shares in the company, valued at $533,382.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles N. Eldred sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $44.64, for a total value of $624,960.00. Following the completion of the transaction, the chief financial officer now owns 108,289 shares in the company, valued at $4,834,020.96. The disclosure for this sale can be found here. Insiders sold 24,953 shares of company stock worth $1,110,564 over the last quarter. 1.24% of the stock is currently owned by insiders.
Shares of PNM Resources stock opened at $47.48 on Friday. The company has a market cap of $3.78 billion, a PE ratio of 23.74, a P/E/G ratio of 4.20 and a beta of 0.28. PNM Resources Inc has a 1-year low of $34.95 and a 1-year high of $48.35. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.69.
PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The business had revenue of $349.65 million for the quarter, compared to analysts’ expectations of $273.12 million. During the same period in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that PNM Resources Inc will post 2.16 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “State Board of Administration of Florida Retirement System Cuts Holdings in PNM Resources Inc (PNM)” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/state-board-of-administration-of-florida-retirement-system-cuts-holdings-in-pnm-resources-inc-pnm/3022739.html.
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.
See Also: How do taxes affect a CDs total return?
Want to see what other hedge funds are holding PNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNM Resources Inc (NYSE:PNM).
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.