Sterling Capital Management LLC Has $1.17 Million Stock Holdings in PACCAR Inc. $PCAR

Sterling Capital Management LLC boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 945.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,160 shares of the company’s stock after purchasing an additional 9,188 shares during the quarter. Sterling Capital Management LLC’s holdings in PACCAR were worth $1,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the period. Wellington Management Group LLP lifted its position in PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. State Street Corp lifted its position in PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after acquiring an additional 94,869 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after acquiring an additional 50,622 shares during the period. Finally, Norges Bank bought a new stake in shares of PACCAR during the fourth quarter worth approximately $727,745,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent research reports. BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Truist Financial boosted their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.00.

PACCAR Stock Down 0.9%

NASDAQ PCAR opened at $119.60 on Tuesday. 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 1-year low of $92.25 and a 1-year high of $131.88. The company has a 50 day moving average of $116.86 and a 200-day moving average of $118.55. The company has a market cap of $62.94 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.12 and a beta of 0.98.

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

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors 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%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is presently 29.79%.

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.