Fuller & Thaler Asset Management Inc. Sells 771,707 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in TXNM Energy, selling 771,707 shares and now holding approximately 3.32% of the company, worth $164.48 million.
• TXNM Energy's recent earnings report showed EPS of $0.25, missing analysts' expectations of $0.46, despite revenue increasing 2.9% year-over-year.
• The company announced a quarterly dividend of $0.4075, equating to an annualized yield of 2.9%, with the dividend payout ratio at 84.02%.

Fuller & Thaler Asset Management Inc. cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,075,559 shares of the company's stock after selling 771,707 shares during the period. Fuller & Thaler Asset Management Inc. owned 3.32% of TXNM Energy worth $164,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of TXNM Energy by 3.6% during the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after purchasing an additional 361,945 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of TXNM Energy during the fourth quarter worth about $303,744,000. Zimmer Partners LP purchased a new position in shares of TXNM Energy during the fourth quarter worth about $165,816,000. Reaves W H & Co. Inc. purchased a new position in shares of TXNM Energy during the first quarter worth about $161,678,000. Finally, Westwood Holdings Group Inc. grew its holdings in shares of TXNM Energy by 14.0% during the first quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after purchasing an additional 226,386 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM traded up $0.1750 during midday trading on Friday, hitting $56.7250. The stock had a trading volume of 1,239,047 shares, compared to its average volume of 1,280,426. The company has a market cap of $5.98 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.10. The business has a fifty day moving average of $56.67 and a 200 day moving average of $54.19. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a 1 year low of $40.47 and a 1 year high of $57.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). The firm had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.4075 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is presently 84.02%.

Analyst Ratings Changes

TXNM has been the subject of several recent analyst reports. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Barclays reissued an "overweight" rating and set a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Finally, Scotiabank boosted their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.86.

TXNM Energy Company Profile

TXNM Energy, 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.