QV Investors Inc. Has $6.14 Million Position in PACCAR Inc. $PCAR

QV Investors Inc. boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,030 shares of the company’s stock after buying an additional 7,010 shares during the quarter. QV Investors Inc.’s holdings in PACCAR were worth $6,136,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PCAR. Private Wealth Management Group LLC grew its holdings in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of PACCAR during the third quarter valued at $32,000. AlphaQuest LLC bought a new position in shares of PACCAR during the third quarter valued at $38,000. True Wealth Design LLC lifted its holdings in shares of PACCAR by 61.1% during the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 138 shares during the period. Finally, Westside Investment Management Inc. lifted its holdings in shares of PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the transaction, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at approximately $33,536,010.20. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the transaction, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. This represents a 43.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $118.32 on Friday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm’s fifty day moving average is $121.48 and its 200-day moving average is $110.84. The firm has a market cap of $62.27 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 1.06.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. PACCAR’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 earnings per share. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BNP Paribas Exane began coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Citigroup raised their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $117.00.

PACCAR 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.