Nomura Holdings Inc. Acquires Shares of 426,443 PNM Resources, Inc. (NYSE:PNM)

Nomura Holdings Inc. acquired a new stake in PNM Resources, Inc. (NYSE:PNM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 426,443 shares of the utilities provider’s stock, valued at approximately $17,740,000. Nomura Holdings Inc. owned 0.47% of PNM Resources as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in PNM Resources by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock valued at $418,399,000 after buying an additional 40,253 shares during the period. Hudson Bay Capital Management LP increased its stake in shares of PNM Resources by 42.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after purchasing an additional 796,077 shares during the last quarter. First Trust Advisors LP increased its stake in shares of PNM Resources by 6.3% during the 4th quarter. First Trust Advisors LP now owns 1,587,169 shares of the utilities provider’s stock worth $66,026,000 after purchasing an additional 94,267 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PNM Resources by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,429 shares of the utilities provider’s stock worth $64,248,000 after purchasing an additional 47,260 shares during the last quarter. Finally, Alpha Wave Global LP increased its stake in shares of PNM Resources by 82.3% during the 3rd quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider’s stock worth $56,827,000 after purchasing an additional 575,012 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

PNM Resources Stock Performance

NYSE:PNM opened at $35.66 on Wednesday. PNM Resources, Inc. has a 1 year low of $34.63 and a 1 year high of $46.47. The firm’s fifty day simple moving average is $37.32 and its 200 day simple moving average is $38.00. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $3.22 billion, a PE ratio of 39.19 and a beta of 0.38.

PNM Resources (NYSE:PNM) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The firm had revenue of $436.90 million during the quarter, compared to analyst estimates of $531.00 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s quarterly revenue was down 19.7% compared to the same quarter last year. On average, sell-side analysts anticipate that PNM Resources, Inc. will post 2.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PNM shares. Barclays increased their price target on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Evercore ISI started coverage on shares of PNM Resources in a research note on Thursday, May 30th. They set an “in-line” rating and a $38.00 price target on the stock. Finally, StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.40.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.