Janus Henderson Group PLC lifted its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 11,341.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,838,427 shares of the utilities provider’s stock after acquiring an additional 1,822,359 shares during the quarter. Janus Henderson Group PLC owned 1.65% of Pinnacle West Capital Corporation worth $156,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PNW. Northwest Investment Counselors LLC bought a new stake in shares of Pinnacle West Capital Corporation in the second quarter worth approximately $106,000. WealthTrust Arizona LLC grew its stake in shares of 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 worth $107,000 after acquiring an additional 9 shares during the period. Captrust Financial Advisors bought a new stake in shares of Pinnacle West Capital Corporation in the second quarter worth approximately $109,000. Pacer Advisors Inc. grew its stake in shares of 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 worth $175,000 after acquiring an additional 66 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of 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 worth $175,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 84.20% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Pinnacle West Capital Corporation (PNW) Shares Bought by Janus Henderson Group PLC” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.watchlistnews.com/pinnacle-west-capital-corporation-pnw-shares-bought-by-janus-henderson-group-plc/1617850.html.

PNW has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, September 11th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. BMO Capital Markets restated a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Royal Bank Of Canada restated a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. Finally, KeyCorp restated a “hold” rating on shares of Pinnacle West Capital Corporation in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $85.11.

Shares of Pinnacle West Capital Corporation (PNW) traded down 0.26% during mid-day trading on Friday, reaching $85.33. 833,333 shares of the company traded hands. The firm has a 50-day moving average price of $88.13 and a 200 day moving average price of $86.63. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $90.92. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 18.84 and a beta of 0.36.

Pinnacle West Capital Corporation (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.33. The company 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%. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, analysts anticipate that Pinnacle West Capital Corporation will post $4.25 earnings per share for the current year.

In other news, EVP David P. Falck sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total transaction of $413,908.00. Following the sale, the executive vice president now owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn L. Munro sold 1,806 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,852 shares in the company, valued at approximately $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 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Pinnacle West Capital Corporation 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 Analyst Ratings Network's FREE daily email newsletter.