OMERS ADMINISTRATION Corp grew its position in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,372 shares of the company’s stock after acquiring an additional 8,510 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in PACCAR were worth $5,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of PACCAR in the 4th quarter worth approximately $27,000. Steph & Co. bought a new position in shares of PACCAR during the 1st quarter valued at approximately $29,000. MCF Advisors LLC raised its holdings in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the period. Elyxium Wealth LLC bought a new stake in PACCAR in the fourth quarter worth $30,000. Finally, Camelot Portfolios LLC bought a new stake in PACCAR in the fourth quarter worth $33,000. 64.90% of the stock is owned by hedge funds and other institutional investors.
PACCAR Price Performance
PCAR stock opened at $132.24 on Monday. The stock has a market capitalization of $69.60 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $133.90. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $119.00 and a 200 day moving average of $120.29.
PACCAR Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s payout ratio is 29.79%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on PCAR. Morgan Stanley upped their target price on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane began coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Citigroup reaffirmed 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. Finally, Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.18.
Read Our Latest Stock Report on PACCAR
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.
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