Oslo Pensjonsforsikring AS Purchases Shares of 4,537 PACCAR Inc. $PCAR

Oslo Pensjonsforsikring AS purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 1st quarter, Holdings Channel.com reports. The fund purchased 4,537 shares of the company’s stock, valued at approximately $524,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth lifted its stake in PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after acquiring an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of PACCAR during the 2nd quarter worth about $81,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.5%

Shares of PCAR stock opened at $126.25 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $66.44 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. The stock has a 50 day simple moving average of $117.82 and a 200 day simple moving average of $119.87. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter last year, the company earned $1.46 EPS. The company’s revenue was down 9.8% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 5.66 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.79%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Citigroup reiterated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. BNP Paribas Exane began coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.18.

About PACCAR

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.