Pinnacle West Capital Co. (PNW) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 37.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,800 shares of the utilities provider’s stock after selling 6,587 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Pinnacle West Capital were worth $862,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PNW. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pinnacle West Capital by 38.0% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,514,179 shares of the utilities provider’s stock valued at $200,631,000 after acquiring an additional 692,367 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Pinnacle West Capital by 803.8% in the 4th quarter. Renaissance Technologies LLC now owns 776,400 shares of the utilities provider’s stock valued at $66,134,000 after acquiring an additional 690,500 shares during the period. BlackRock Inc. increased its holdings in shares of Pinnacle West Capital by 5.7% in the 1st quarter. BlackRock Inc. now owns 11,989,897 shares of the utilities provider’s stock valued at $956,797,000 after acquiring an additional 641,820 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Pinnacle West Capital by 151.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 824,565 shares of the utilities provider’s stock valued at $70,236,000 after acquiring an additional 496,328 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Pinnacle West Capital by 397.6% in the 4th quarter. Two Sigma Advisers LP now owns 509,783 shares of the utilities provider’s stock valued at $43,423,000 after acquiring an additional 407,325 shares during the period. 82.90% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on PNW shares. Royal Bank of Canada raised shares of Pinnacle West Capital from a “sector perform” rating to an “outperform” rating in a report on Thursday, March 8th. Bank of America raised shares of Pinnacle West Capital from an “underperform” rating to a “neutral” rating and set a $81.00 target price on the stock in a report on Friday, May 4th. They noted that the move was a valuation call. Morgan Stanley set a $80.00 target price on shares of Pinnacle West Capital and gave the company a “hold” rating in a report on Thursday, March 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $79.00 target price on shares of Pinnacle West Capital in a report on Tuesday, March 6th. Finally, Credit Suisse Group raised shares of Pinnacle West Capital from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $87.00 in a report on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $83.82.

In other Pinnacle West Capital news, EVP Mark A. Schiavoni sold 9,534 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $79.02, for a total value of $753,376.68. Following the transaction, the executive vice president now directly owns 25,496 shares of the company’s stock, valued at approximately $2,014,693.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Shares of Pinnacle West Capital opened at $80.33 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.35 and a current ratio of 0.51. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.92 and a beta of 0.28. Pinnacle West Capital Co. has a 1 year low of $73.41 and a 1 year high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). The firm had revenue of $692.71 million during the quarter, compared to analyst estimates of $680.96 million. Pinnacle West Capital had a net margin of 13.08% and a return on equity of 9.11%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. equities research analysts expect that Pinnacle West Capital Co. will post 4.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 1st will be paid a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, July 31st. This represents a $2.78 annualized dividend and a yield of 3.46%. Pinnacle West Capital’s dividend payout ratio is currently 63.91%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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