R Squared Ltd Sells 12,519 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• R Squared Ltd sharply reduced its stake in Pinnacle West Capital, selling 12,519 shares in the first quarter and cutting its position by 82.2% to 2,703 shares valued at about $272,000.
• Insider selling also occurred, with EVP Jacob Tetlow selling 6,567 shares at $99 each, a transaction worth roughly $650,133 and nearly halving his ownership.
• Pinnacle West reported stronger-than-expected quarterly results, posting EPS of $0.27 versus the expected loss and raising revenue 11.4% year over year, while also declaring a $0.91 quarterly dividend.

R Squared Ltd decreased its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 82.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,703 shares of the utilities provider's stock after selling 12,519 shares during the period. R Squared Ltd's holdings in Pinnacle West Capital were worth $272,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PNW. Empowered Funds LLC lifted its stake in shares of Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider's stock worth $281,000 after buying an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Pinnacle West Capital by 2.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider's stock worth $418,000 after acquiring an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Pinnacle West Capital by 11.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider's stock valued at $119,000 after acquiring an additional 140 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Pinnacle West Capital by 4.7% during the fourth quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider's stock valued at $331,000 after purchasing an additional 167 shares in the last quarter. Finally, New York Life Investment Management LLC increased its holdings in Pinnacle West Capital by 1.1% in the 4th quarter. New York Life Investment Management LLC now owns 16,192 shares of the utilities provider's stock worth $1,436,000 after buying an additional 170 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jacob Tetlow sold 6,567 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares of the company's stock, valued at $656,766. The trade was a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Down 0.8%

NYSE:PNW opened at $107.74 on Thursday. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.97 and a beta of 0.43. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $110.40. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $102.80 and a 200-day simple moving average of $98.96.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted ($0.04) earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital's payout ratio is currently 67.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research note on Tuesday, April 21st. Argus lifted their price objective on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Wall Street Zen raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Truist Financial decreased their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating on the stock in a research note on Friday, May 29th. Finally, TD Cowen increased their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a "hold" rating in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, Pinnacle West Capital presently has an average rating of "Hold" and an average price target of $104.14.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company's regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company's diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.

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