On August 9, 2024, Robert Smith, Executive Vice President, General Counsel and Chief Development Officer of Pinnacle West Capital Corp (NYSE:PNW), sold 4,950 shares of the company’s stock. The transaction was reported in a recent SEC filing. Following this sale, the insider now owns 6,397 shares of the company’s stock.
Pinnacle West Capital Corp (NYSE:PNW) is a holding company that operates primarily through its subsidiary, Arizona Public Service. This subsidiary generates, sells, and delivers electricity and energy-related products and services in Arizona. The company is known for its significant role in the energy sector in its region.
Over the past year, Robert Smith has sold a total of 6,560 shares and purchased no shares. This latest transaction is part of a broader trend seen within the company. Over the past year, there have been four insider sales and no insider purchases.
Pinnacle West Capital Corp shares were trading at $85.8 on the day of the sale. The company has a market capitalization of around $9.74 billion. The stock’s price-to-earnings ratio is 15.85, which is above the industry median of 14.9 but below the company’s historical median.
Pinnacle West Capital Corp’s GF Value is $86.76, which represents a Price to GF Value ratio of 0.99. This suggests that the stock is fairly valued based on its GF Value, which takes into account historical trading multiples, a GuruFocus adjustment factor, and estimates of future business performance.
This insider sale may be of interest to investors who track insider behavior as an indicator of potential stock performance, taking into account the broader market and company-specific valuations.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
