Cynosure Group LLC purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,580 shares of the company’s stock, valued at approximately $502,000.
Several other institutional investors also recently bought and sold shares of the stock. 71 West Capital Partners purchased a new position in PACCAR during the fourth quarter valued at approximately $243,000. OMERS ADMINISTRATION Corp raised its position in PACCAR by 9.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 39,862 shares of the company’s stock valued at $4,365,000 after acquiring an additional 3,285 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in PACCAR by 27.4% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 790 shares of the company’s stock valued at $87,000 after acquiring an additional 170 shares in the last quarter. USS Investment Management Ltd raised its position in PACCAR by 1.0% during the fourth quarter. USS Investment Management Ltd now owns 63,585 shares of the company’s stock valued at $6,963,000 after acquiring an additional 602 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in PACCAR by 7.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 79,535 shares of the company’s stock valued at $8,710,000 after acquiring an additional 5,473 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Stock Up 0.3%
Shares of PCAR opened at $121.04 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88. The stock has a market capitalization of $63.70 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.12 and a beta of 0.98. The stock has a 50 day moving average price of $117.75 and a 200 day moving average price of $117.81.
PACCAR Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on PCAR. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target for the company. Truist Financial boosted their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Citigroup restated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.00.
Read Our Latest Analysis on PCAR
About PACCAR
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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