BI Asset Management Fondsmaeglerselskab A S lowered its stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 38.7% during the 1st quarter, HoldingsChannel reports. The firm owned 12,674 shares of the company’s stock after selling 8,005 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PACCAR were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its stake in shares of PACCAR by 5.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 95,619 shares of the company’s stock worth $10,471,000 after buying an additional 4,845 shares during the last quarter. World Investment Advisors boosted its position in PACCAR by 19.7% in the fourth quarter. World Investment Advisors now owns 6,402 shares of the company’s stock worth $701,000 after purchasing an additional 1,052 shares during the last quarter. Corient Private Wealth LLC boosted its position in PACCAR by 5.5% in the fourth quarter. Corient Private Wealth LLC now owns 1,395,376 shares of the company’s stock worth $152,808,000 after purchasing an additional 72,594 shares during the last quarter. Mengis Capital Management Inc. grew its stake in shares of PACCAR by 16.1% during the 4th quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock valued at $12,209,000 after purchasing an additional 15,440 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of PACCAR by 1,112.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,085 shares of the company’s stock valued at $228,000 after purchasing an additional 1,913 shares during the period. Institutional investors own 64.90% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. BNP Paribas Exane initiated coverage on shares of 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 upped their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Citigroup reissued a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $122.00.
PACCAR Price Performance
NASDAQ PCAR opened at $117.03 on Thursday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock has a market cap of $61.59 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.08 and a beta of 0.98. The company’s 50 day moving average is $117.08 and its two-hundred day moving average is $118.32.
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current year.
PACCAR Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.
PACCAR Company Profile
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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