ProShare Advisors LLC Acquires 254,881 Shares of PACCAR Inc. $PCAR

ProShare Advisors LLC boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 38.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 912,539 shares of the company’s stock after acquiring an additional 254,881 shares during the period. ProShare Advisors LLC owned approximately 0.17% of PACCAR worth $99,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in shares of PACCAR in the fourth quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in shares of PACCAR in the fourth quarter valued at about $30,000. Camelot Portfolios LLC bought a new stake in shares of PACCAR in the fourth quarter valued at about $33,000. Wealth Watch Advisors INC bought a new stake in shares of PACCAR in the third quarter valued at about $32,000. Finally, True Wealth Design LLC lifted its holdings in shares of PACCAR by 61.1% in the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PCAR opened at $109.38 on Wednesday. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. The firm has a market capitalization of $57.57 billion, a PE ratio of 23.27, a PEG ratio of 1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The business’s 50-day simple moving average is $118.32 and its 200 day simple moving average is $115.63.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. PACCAR’s revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio is currently 29.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PCAR. Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Weiss Ratings upgraded PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Truist Financial boosted their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $122.00.

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.