Russell Investments Group Ltd. Sells 33,337 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Russell Investments Group Ltd. sold 33,337 shares of Pinnacle West in Q3, trimming its stake by 8.3% to 368,457 shares worth about $32.46 million (roughly 0.31% of the company).
• Other large moves included Norges Bank opening a new position worth about $114.4 million and Vanguard increasing holdings to 14.78 million shares (~$1.322 billion), with institutional investors now owning ~91.51% of PNW.
• Analysts show a consensus "Hold" rating with a $100.08 average price target, while Pinnacle West recently beat quarterly EPS estimates and set FY2026 guidance of 4.55–4.75 EPS.

Russell Investments Group Ltd. lowered its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 368,457 shares of the utilities provider's stock after selling 33,337 shares during the quarter. Russell Investments Group Ltd. owned about 0.31% of Pinnacle West Capital worth $32,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNW. Norges Bank purchased a new position in Pinnacle West Capital during the second quarter worth about $114,384,000. Vanguard Group Inc. raised its holdings in shares of Pinnacle West Capital by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider's stock valued at $1,322,482,000 after acquiring an additional 316,629 shares in the last quarter. Reaves W H & Co. Inc. boosted its position in shares of Pinnacle West Capital by 21.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider's stock valued at $161,757,000 after acquiring an additional 316,193 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Pinnacle West Capital by 129.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 384,629 shares of the utilities provider's stock valued at $34,413,000 after acquiring an additional 216,984 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Pinnacle West Capital by 7.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider's stock worth $267,512,000 after purchasing an additional 203,136 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

PNW has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Barclays decreased their price target on shares of Pinnacle West Capital from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Thursday, January 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. BMO Capital Markets lifted their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the stock a "market perform" rating in a report on Thursday, February 26th. Finally, Stifel Nicolaus set a $107.00 target price on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $100.08.

Pinnacle West Capital Stock Up 0.8%

Shares of NYSE PNW opened at $101.45 on Friday. The firm's fifty day moving average is $95.54 and its 200 day moving average is $91.33. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $103.21. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 3.69 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.08. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned ($0.06) EPS. The company's revenue was up 3.0% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

About Pinnacle West Capital

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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