Victory Capital Management Inc. Sells 65,884 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Victory Capital Management Inc. lowered its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 14.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 389,900 shares of the utilities provider's stock after selling 65,884 shares during the period. Victory Capital Management Inc. owned 0.34% of Pinnacle West Capital worth $33,052,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PNW. Farther Finance Advisors LLC increased its stake in shares of Pinnacle West Capital by 116.2% in the third quarter. Farther Finance Advisors LLC now owns 1,797 shares of the utilities provider's stock valued at $159,000 after purchasing an additional 966 shares during the period. Van ECK Associates Corp grew its holdings in Pinnacle West Capital by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 31,440 shares of the utilities provider's stock worth $2,808,000 after buying an additional 2,139 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Pinnacle West Capital in the 3rd quarter valued at approximately $352,000. Principal Financial Group Inc. raised its stake in Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock valued at $12,336,000 after acquiring an additional 9,993 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Pinnacle West Capital during the 3rd quarter valued at $1,168,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Trading Up 0.7 %

Shares of Pinnacle West Capital stock traded up $0.62 during trading on Thursday, hitting $91.85. The stock had a trading volume of 843,643 shares, compared to its average volume of 989,057. Pinnacle West Capital Co. has a 1 year low of $69.50 and a 1 year high of $95.42. The stock has a 50 day simple moving average of $88.02 and a 200 day simple moving average of $88.51. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $10.94 billion, a PE ratio of 17.40, a P/E/G ratio of 3.59 and a beta of 0.53.

Remove Ads

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on PNW shares. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Citigroup increased their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Pinnacle West Capital has an average rating of "Moderate Buy" and an average target price of $92.28.

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.