Federated Investors Inc. PA trimmed its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,651 shares of the utilities provider’s stock after selling 708 shares during the period. Federated Investors Inc. PA’s holdings in Pinnacle West Capital Corporation were worth $226,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PNW. Northwest Investment Counselors LLC bought a new stake in Pinnacle West Capital Corporation in the second quarter valued at $106,000. WealthTrust Arizona LLC grew its position in Pinnacle West Capital Corporation by 0.7% in the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 9 shares during the period. Pacer Advisors Inc. grew its position in Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 66 shares during the period. Parallel Advisors LLC grew its position in Pinnacle West Capital Corporation by 8.9% in the first quarter. Parallel Advisors LLC now owns 2,069 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 169 shares during the period. Finally, CIBC World Markets Inc. bought a new stake in Pinnacle West Capital Corporation in the first quarter valued at $202,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.

In other news, Director Kathryn L. Munro sold 1,806 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $90.28, for a total transaction of $163,045.68. Following the completion of the transaction, the director now owns 17,852 shares of the company’s stock, valued at approximately $1,611,678.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David P. Falck sold 4,600 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $89.98, for a total value of $413,908.00. Following the transaction, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,419 shares of company stock valued at $3,713,068 in the last three months. 0.70% of the stock is owned by insiders.

A number of brokerages have weighed in on PNW. Morgan Stanley upped their price target on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Tuesday, August 29th. BMO Capital Markets reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. BidaskClub cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Pinnacle West Capital Corporation has a consensus rating of “Hold” and a consensus price target of $84.30.

WARNING: This piece was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/09/24/federated-investors-inc-pa-has-226000-holdings-in-pinnacle-west-capital-corporation-pnw.html.

Shares of Pinnacle West Capital Corporation (NYSE:PNW) opened at 86.15 on Friday. The stock’s 50 day moving average price is $89.15 and its 200 day moving average price is $86.36. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $90.92. The company has a market cap of $9.62 billion, a PE ratio of 19.03 and a beta of 0.38.

Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.33. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The company had revenue of $944.59 million during the quarter, compared to analysts’ expectations of $921.79 million. During the same quarter in the previous year, the firm earned $1.08 EPS. Pinnacle West Capital Corporation’s revenue was up 3.2% on a year-over-year basis. Equities analysts predict that Pinnacle West Capital Corporation will post $4.25 earnings per share for the current fiscal year.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW).

Institutional Ownership by Quarter for Pinnacle West Capital Corporation (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.