Quantbot Technologies LP Buys 17,259 Shares of Pinnacle West Capital Corporation (PNW)

Quantbot Technologies LP increased its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 1,512.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,400 shares of the utilities provider’s stock after purchasing an additional 17,259 shares during the quarter. Quantbot Technologies LP’s holdings in Pinnacle West Capital Corporation were worth $1,566,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Swiss National Bank increased its stake in Pinnacle West Capital Corporation by 2.8% in the 2nd quarter. Swiss National Bank now owns 405,651 shares of the utilities provider’s stock worth $34,545,000 after buying an additional 11,200 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Pinnacle West Capital Corporation by 4.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 507,078 shares of the utilities provider’s stock worth $43,183,000 after buying an additional 20,097 shares in the last quarter. American Century Companies Inc. increased its stake in Pinnacle West Capital Corporation by 140.6% in the 2nd quarter. American Century Companies Inc. now owns 2,515,865 shares of the utilities provider’s stock worth $214,251,000 after buying an additional 1,470,383 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Pinnacle West Capital Corporation by 38.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 82,960 shares of the utilities provider’s stock worth $7,065,000 after buying an additional 22,860 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Pinnacle West Capital Corporation by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock worth $167,166,000 after buying an additional 5,092 shares in the last quarter. 84.20% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on PNW. Morgan Stanley increased their price target on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Tuesday, August 29th. BMO Capital Markets reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th. BidaskClub lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $84.30.

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In related news, Director Kathryn L. Munro sold 1,806 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the completion of the sale, the director now owns 17,852 shares of the company’s stock, valued at approximately $1,611,678.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $89.98, for a total transaction of $413,908.00. Following the sale, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. Insiders have sold 41,419 shares of company stock valued at $3,713,068 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Pinnacle West Capital Corporation (NYSE:PNW) opened at 86.15 on Friday. Pinnacle West Capital Corporation has a 12 month low of $70.86 and a 12 month high of $90.92. The stock’s 50 day moving average price is $89.15 and its 200-day moving average price is $86.36. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 19.03 and a beta of 0.38.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.33. The business had revenue of $944.59 million during the quarter, compared to analysts’ expectations of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities analysts expect that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

About Pinnacle West Capital Corporation

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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

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