American Century Companies Inc. Trims Holdings in PNM Resources, Inc. (NYSE:PNM)

Posted by on Jun 8th, 2023

American Century Companies Inc. decreased its stake in shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) by 41.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 329,590 shares of the utilities provider’s stock after selling 234,410 shares during the period. American Century Companies Inc. owned 0.38% of PNM Resources worth $16,081,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in PNM Resources by 194.1% in the 4th quarter. Lindbrook Capital LLC now owns 597 shares of the utilities provider’s stock worth $29,000 after buying an additional 394 shares in the last quarter. CI Investments Inc. bought a new position in PNM Resources in the fourth quarter valued at $34,000. Quadrant Capital Group LLC lifted its stake in PNM Resources by 44.5% during the third quarter. Quadrant Capital Group LLC now owns 782 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 241 shares during the last quarter. Signaturefd LLC lifted its stake in PNM Resources by 60.1% during the third quarter. Signaturefd LLC now owns 783 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 294 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of PNM Resources by 34.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.

PNM Resources Price Performance

Shares of NYSE:PNM opened at $46.66 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.29 and a quick ratio of 0.24. PNM Resources, Inc. has a 1-year low of $43.43 and a 1-year high of $49.60. The firm’s 50 day simple moving average is $47.58 and its two-hundred day simple moving average is $48.50. The company has a market capitalization of $4.00 billion, a P/E ratio of 19.28, a P/E/G ratio of 4.09 and a beta of 0.42.

PNM Resources (NYSE:PNM – Get Rating) last released its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.39 by $0.16. The business had revenue of $544.00 million during the quarter, compared to the consensus estimate of $460.14 million. PNM Resources had a net margin of 8.89% and a return on equity of 10.55%. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Research analysts expect that PNM Resources, Inc. will post 2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PNM has been the subject of a number of recent research reports. StockNews.com lowered PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Siebert Williams Shank raised shares of PNM Resources from a “hold” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $55.00 in a research note on Tuesday, May 16th.

PNM Resources Profile

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PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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