Vestmark Advisory Solutions Inc. raised its stake in PACCAR Inc (NASDAQ:PCAR – Free Report) by 26.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,980 shares of the company’s stock after purchasing an additional 620 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in PACCAR were worth $218,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. Prudential PLC purchased a new position in shares of PACCAR in the 1st quarter valued at approximately $763,000. Vanguard Group Inc. grew its stake in shares of PACCAR by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of PACCAR by 66.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after purchasing an additional 27,300 shares during the last quarter. Covestor Ltd grew its stake in shares of PACCAR by 73.6% in the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after purchasing an additional 898 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of PACCAR by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. StockNews.com assumed coverage on PACCAR in a research note on Thursday. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price target on PACCAR from $60.00 to $81.50 in a research note on Thursday, April 27th. Jefferies Financial Group upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Citigroup lifted their price target on PACCAR from $88.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 27th. Finally, Credit Suisse Group lifted their price target on PACCAR from $84.00 to $90.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $74.57.
Insider Activity
In other news, VP Todd R. Hubbard sold 6,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $85.19, for a total value of $511,140.00. Following the sale, the vice president now directly owns 3,230 shares in the company, valued at $275,163.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Harrie Schippers sold 24,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $86.07, for a total value of $2,065,680.00. Following the completion of the transaction, the chief financial officer now directly owns 93,522 shares in the company, valued at $8,049,438.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 6,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $85.19, for a total value of $511,140.00. Following the completion of the transaction, the vice president now owns 3,230 shares of the company’s stock, valued at $275,163.70. The disclosure for this sale can be found here. Insiders have sold 86,059 shares of company stock worth $7,401,818 over the last three months. 2.06% of the stock is currently owned by corporate insiders.
PACCAR Stock Up 1.1 %
PCAR opened at $84.66 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.32 and a current ratio of 2.57. PACCAR Inc has a one year low of $54.64 and a one year high of $90.05. The business’s fifty day moving average is $83.69 and its two-hundred day moving average is $73.20. The company has a market cap of $44.26 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.99 and a beta of 0.96.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.15. PACCAR had a return on equity of 29.75% and a net margin of 11.20%. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the prior year, the business earned $1.38 earnings per share. The business’s revenue was up 24.4% on a year-over-year basis. Analysts anticipate that PACCAR Inc will post 8.54 EPS for the current fiscal year.
PACCAR Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th will be given a $0.27 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 16th. PACCAR’s dividend payout ratio is currently 15.51%.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.
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