Marshall & Sullivan Inc. WA Invests $43,000 in PACCAR Inc. $PCAR

Marshall & Sullivan Inc. WA purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, HoldingsChannel reports. The firm purchased 450 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR in the 1st quarter worth $29,000. Sunbelt Securities Inc. raised its holdings in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after purchasing an additional 350 shares during the period. Bayforest Capital Ltd raised its holdings in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new position in PACCAR in the 1st quarter worth $40,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Down 1.9%

Shares of PCAR stock opened at $99.46 on Friday. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $98.81 and its 200-day moving average price is $96.03. The stock has a market capitalization of $52.23 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 4.07 and a beta of 0.94.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is 22.60%.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’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 directly owned 223,190 shares of the company’s stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Vertical Research raised PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and raised their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Truist Financial decreased their price target on PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.68.

PACCAR Company 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.