California State Teachers Retirement System Has $14.98 Million Holdings in Pinnacle West Capital Corporation $PNW

California State Teachers Retirement System reduced its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,992 shares of the utilities provider's stock after selling 3,301 shares during the quarter. California State Teachers Retirement System owned 0.12% of Pinnacle West Capital worth $14,979,144 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wedmont Private Capital boosted its holdings in Pinnacle West Capital by 4.8% during the second quarter. Wedmont Private Capital now owns 3,202 shares of the utilities provider's stock worth $346,000 after purchasing an additional 146 shares during the last quarter. HB Wealth Management LLC raised its stake in Pinnacle West Capital by 4.0% during the second quarter. HB Wealth Management LLC now owns 5,852 shares of the utilities provider's stock valued at $626,000 after purchasing an additional 224 shares in the last quarter. Compass Financial Management LLC purchased a new position in Pinnacle West Capital during the 2nd quarter worth $33,000. AlphaGrep UK Ltd purchased a new stake in shares of Pinnacle West Capital during the second quarter worth about $288,000. Finally, Syon Capital LLC lifted its stake in shares of Pinnacle West Capital by 5.2% in the 2nd quarter. Syon Capital LLC now owns 10,215 shares of the utilities provider's stock valued at $1,093,000 after purchasing an additional 508 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on PNW shares. Truist Financial dropped their price objective on Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, August 17th. BMO Capital Markets dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Morgan Stanley dropped their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating for the company in a research note on Friday, August 21st. TD Cowen reiterated a "hold" rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $104.62.

Insider Activity

In other Pinnacle West Capital news, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the transaction, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Stock Performance

NYSE PNW traded down $0.63 on Tuesday, hitting $94.77. 270,698 shares of the company's stock traded hands, compared to its average volume of 1,209,226. The firm has a market capitalization of $11.49 billion, a PE ratio of 18.18, a P/E/G ratio of 3.51 and a beta of 0.45. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The firm's 50-day moving average price is $101.62 and its two-hundred day moving average price is $101.90. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $1.58 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts expect that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 3rd. Pinnacle West Capital's dividend payout ratio (DPR) is presently 69.73%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation NYSE: PNW is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.

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