Victory Capital Management Inc. lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 77.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,732 shares of the company’s stock after selling 193,684 shares during the quarter. Victory Capital Management Inc.’s holdings in PACCAR were worth $3,934,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. LVW Advisors LLC increased its stake in PACCAR by 51.5% in the 1st quarter. LVW Advisors LLC now owns 8,755 shares of the company’s stock worth $597,000 after acquiring an additional 2,975 shares during the last quarter. Regentatlantic Capital LLC increased its stake in PACCAR by 39.7% in the 1st quarter. Regentatlantic Capital LLC now owns 66,736 shares of the company’s stock worth $4,547,000 after acquiring an additional 18,960 shares during the last quarter. Stevens Capital Management LP bought a new stake in PACCAR in the 1st quarter worth approximately $680,000. Marathon Asset Management LLP increased its stake in PACCAR by 9.9% in the 1st quarter. Marathon Asset Management LLP now owns 425,081 shares of the company’s stock worth $28,965,000 after acquiring an additional 38,232 shares during the last quarter. Finally, Grimes & Company Inc. increased its stake in PACCAR by 5.1% in the 1st quarter. Grimes & Company Inc. now owns 76,049 shares of the company’s stock worth $5,182,000 after acquiring an additional 3,720 shares during the last quarter. 61.15% of the stock is currently owned by institutional investors.
In related news, insider Darrin C. Siver sold 5,067 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $70.10, for a total transaction of $355,196.70. Following the completion of the transaction, the insider now owns 23,193 shares in the company, valued at approximately $1,625,829.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP C Michael Dozier sold 12,638 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $69.17, for a total value of $874,170.46. Following the transaction, the vice president now owns 8,401 shares of the company’s stock, valued at approximately $581,097.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,301 shares of company stock valued at $1,554,065. 2.32% of the stock is owned by company insiders.
Shares of PACCAR stock traded up $0.50 on Friday, reaching $67.56. The company had a trading volume of 1,143,248 shares, compared to its average volume of 1,982,965. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.32 and a current ratio of 2.49. PACCAR Inc has a 1 year low of $53.43 and a 1 year high of $73.00.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the business earned $1.45 EPS. PACCAR’s revenue was up 17.3% compared to the same quarter last year. Sell-side analysts predict that PACCAR Inc will post 6.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s payout ratio is currently 20.51%.
PCAR has been the subject of a number of recent research reports. Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a report on Friday, February 1st. BidaskClub cut PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Longbow Research cut PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 target price for the company. in a report on Monday, May 6th. BMO Capital Markets lifted their target price on PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Finally, Robert W. Baird upgraded PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 target price for the company in a report on Thursday, February 7th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.24.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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