Nomura Holdings Inc. raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 126.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,770 shares of the utilities provider’s stock after acquiring an additional 7,679 shares during the quarter. Nomura Holdings Inc.’s holdings in Pinnacle West Capital Corporation were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Pinnacle West Capital Corporation during the 2nd quarter valued at $106,000. WealthTrust Arizona LLC raised its holdings in Pinnacle West Capital Corporation by 0.7% during the 2nd 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. Captrust Financial Advisors bought a new stake in Pinnacle West Capital Corporation during the 2nd quarter valued at $109,000. Parallel Advisors LLC raised its holdings in Pinnacle West Capital Corporation by 3.6% during the 2nd quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 75 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Pinnacle West Capital Corporation by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 174 shares during the period. 84.16% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Nomura Holdings Inc. Has $1.18 Million Holdings in Pinnacle West Capital Corporation (PNW)” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/10/17/nomura-holdings-inc-has-1-18-million-holdings-in-pinnacle-west-capital-corporation-pnw.html.

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Morgan Stanley boosted their target price on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Credit Suisse Group assumed coverage on shares of Pinnacle West Capital Corporation in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, KeyCorp reissued a “hold” rating on shares of Pinnacle West Capital Corporation in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.78.

Pinnacle West Capital Corporation (NYSE:PNW) opened at 87.3199 on Tuesday. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 19.2844 and a beta of 0.36. The stock’s 50 day moving average is $87.61 and its 200-day moving average is $86.77. Pinnacle West Capital Corporation has a 52-week low of $70.86 and a 52-week high of $90.92.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.33. The firm had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. Equities research analysts anticipate that Pinnacle West Capital Corporation will post $4.25 EPS for the current fiscal year.

In other news, Chairman Donald E. Brandt sold 35,013 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the sale, the chairman now directly owns 118,574 shares in the company, valued at approximately $10,620,673.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn L. Munro sold 1,806 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the sale, the director now owns 17,852 shares in the company, valued at $1,611,678.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,419 shares of company stock worth $3,713,068 over the last 90 days. Insiders own 0.70% of the company’s stock.

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.