Cambiar Investors LLC Has $14.07 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Cambiar Investors LLC reduced its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,814 shares of the utilities provider's stock after selling 6,331 shares during the period. Cambiar Investors LLC owned about 0.14% of Pinnacle West Capital worth $14,069,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNW. Intech Investment Management LLC acquired a new stake in Pinnacle West Capital during the 1st quarter valued at $898,000. Quantbot Technologies LP purchased a new stake in Pinnacle West Capital in the 1st quarter worth about $1,102,000. Natixis purchased a new position in Pinnacle West Capital during the 1st quarter valued at about $4,064,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Pinnacle West Capital by 148.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,944 shares of the utilities provider's stock valued at $1,341,000 after purchasing an additional 10,732 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Pinnacle West Capital by 15.6% in the first quarter. Sei Investments Co. now owns 228,555 shares of the utilities provider's stock worth $17,080,000 after purchasing an additional 30,924 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock traded down $1.98 during mid-day trading on Friday, reaching $85.83. The company had a trading volume of 1,116,874 shares, compared to its average volume of 1,126,928. The company has a 50 day moving average of $88.26 and a 200-day moving average of $82.18. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $91.57. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.18 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business earned $0.94 earnings per share. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 4.88 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, November 4th. This is a positive change from Pinnacle West Capital's previous quarterly dividend of $0.88. Pinnacle West Capital's dividend payout ratio is 65.06%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PNW shares. StockNews.com upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $87.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They set a "buy" rating and a $104.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $80.79.

Insiders Place Their Bets

In related news, Director Susan T. Flanagan acquired 500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $86.54 per share, for a total transaction of $43,270.00. Following the purchase, the director now owns 750 shares in the company, valued at approximately $64,905. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Susan T. Flanagan acquired 500 shares of the business's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $86.54 per share, with a total value of $43,270.00. Following the completion of the acquisition, the director now owns 750 shares in the company, valued at $64,905. The trade was a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Edgar Smith sold 4,950 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares in the company, valued at approximately $548,862.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.