Insider Selling: David Falck Sells 7,500 Shares of Pinnacle West Capital Corp. Stock (PNW)
Pinnacle West Capital Corp. (NYSE:PNW) EVP David Falck unloaded 7,500 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $52.92, for a total value of $396,900.00. Following the completion of the transaction, the executive vice president now directly owns 33,678 shares in the company, valued at approximately $1,782,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at CRT Capital initiated coverage on shares of Pinnacle West Capital Corp. in a research note to investors on Tuesday, November 5th. They set a “fair value” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital Corp. in a research note to investors on Friday, November 1st. They now have a $59.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Pinnacle West Capital Corp. from $52.00 to $54.00 in a research note to investors on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.17.
Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded up 0.19% on Friday, hitting $52.15. 597,980 shares of the company’s stock traded hands. Pinnacle West Capital Corp. has a 52-week low of $51.50 and a 52-week high of $61.89. The stock’s 50-day moving average is $53.48 and its 200-day moving average is $55.36. The company has a market cap of $5.739 billion and a P/E ratio of 14.28.
Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by $0.11. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Pinnacle West Capital Corp. will post $3.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a dividend of 0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, January 30th.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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