Prudential PLC trimmed its stake in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 15.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 959,700 shares of the utilities provider’s stock after selling 177,500 shares during the period. Prudential PLC owned about 1.20% of PNM Resources, Inc. (Holding Co.) worth $36,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Advantus Capital Management Inc boosted its position in PNM Resources, Inc. (Holding Co.) by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 10,198 shares of the utilities provider’s stock valued at $377,000 after buying an additional 299 shares during the period. New York State Common Retirement Fund lifted its position in shares of PNM Resources, Inc. (Holding Co.) by 0.3% in the 2nd quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock worth $5,243,000 after purchasing an additional 395 shares during the period. Comerica Bank lifted its position in shares of PNM Resources, Inc. (Holding Co.) by 0.7% in the 2nd quarter. Comerica Bank now owns 62,790 shares of the utilities provider’s stock worth $2,439,000 after purchasing an additional 454 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of PNM Resources, Inc. (Holding Co.) by 0.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 178,577 shares of the utilities provider’s stock worth $6,831,000 after purchasing an additional 458 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of PNM Resources, Inc. (Holding Co.) by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 33,600 shares of the utilities provider’s stock worth $1,285,000 after purchasing an additional 500 shares during the period. 94.31% of the stock is owned by institutional investors.

In related news, SVP Patrick V. Apodaca sold 5,333 shares of the stock in a transaction 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 transaction, the senior vice president now owns 65,009 shares in the company, valued at approximately $2,628,313.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ronald N. Darnell sold 5,000 shares of the stock in a transaction 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 transaction, 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 owned by insiders.

Several equities research analysts have recently weighed in on PNM shares. Zacks Investment Research cut shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. ValuEngine lowered shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub lowered shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Jefferies Group LLC reiterated 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. Finally, KeyCorp restated a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources, Inc. (Holding Co.) currently has an average rating of “Hold” and a consensus price target of $38.91.

COPYRIGHT VIOLATION NOTICE: This piece was first published by Marea Informative and is owned by of Marea Informative. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at http://www.mareainformativa.com/prudential-plc-trims-position-in-pnm-resources-inc-holding-co-pnm/116966/.

Shares of PNM Resources, Inc. (NYSE:PNM) remained flat at $41.35 during mid-day trading on Friday. The company’s stock had a trading volume of 476,886 shares. PNM Resources, Inc. has a 12 month low of $30.95 and a 12 month high of $43.05. The company has a market cap of $3.29 billion, a PE ratio of 23.76 and a beta of 0.30. The company has a 50 day moving average price of $41.66 and a 200 day moving average price of $39.40.

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

The company 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 dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s payout ratio is currently 55.43%.

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)

Receive News & Stock Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related stocks with our FREE daily email newsletter.