National Pension Service Grows Position in PACCAR Inc. (NASDAQ:PCAR)

National Pension Service raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,590,669 shares of the company’s stock after acquiring an additional 142,977 shares during the quarter. National Pension Service’s holdings in PACCAR were worth $154,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Brighton Jones LLC increased its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $30,440,000. Rockefeller Capital Management L.P. boosted its position in shares of PACCAR by 4.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 16,577 shares of the company’s stock valued at $1,731,000 after buying an additional 764 shares during the period. Townsquare Capital LLC boosted its holdings in shares of PACCAR by 1.8% in the fourth quarter. Townsquare Capital LLC now owns 11,332 shares of the company’s stock valued at $1,179,000 after purchasing an additional 199 shares during the period. Finally, Advisors Capital Management LLC boosted its holdings in shares of PACCAR by 27.7% in the fourth quarter. Advisors Capital Management LLC now owns 3,305 shares of the company’s stock valued at $344,000 after purchasing an additional 716 shares during the period. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 1.7%

Shares of PACCAR stock opened at $100.66 on Thursday. The firm has a market capitalization of $52.86 billion, a PE ratio of 17.24, a P/E/G ratio of 3.97 and a beta of 0.91. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The firm’s 50-day moving average price is $96.10 and its 200 day moving average price is $97.35. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company posted $2.13 EPS. On average, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 22.60%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their target price on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Citigroup upped their target price on PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Finally, UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and upped their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $107.77.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, 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.