Advisor Partners LLC Decreases Stake in PACCAR Inc. (PCAR)
Advisor Partners LLC reduced its stake in PACCAR Inc. (NASDAQ:PCAR) by 12.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,158 shares of the company’s stock after selling 855 shares during the period. Advisor Partners LLC’s holdings in PACCAR were worth $407,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of PACCAR by 2,119.4% in the first quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock valued at $1,608,519,000 after buying an additional 22,857,778 shares during the period. Victory Capital Management Inc. boosted its stake in shares of PACCAR by 25,225.9% in the first quarter. Victory Capital Management Inc. now owns 1,669,483 shares of the company’s stock valued at $112,190,000 after buying an additional 1,662,891 shares during the period. FMR LLC boosted its stake in shares of PACCAR by 20.7% in the first quarter. FMR LLC now owns 4,832,949 shares of the company’s stock valued at $324,775,000 after buying an additional 829,031 shares during the period. Vanguard Group Inc. boosted its stake in shares of PACCAR by 3.3% in the first quarter. Vanguard Group Inc. now owns 23,390,459 shares of the company’s stock valued at $1,571,839,000 after buying an additional 754,689 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of PACCAR during the first quarter valued at approximately $49,049,000. Hedge funds and other institutional investors own 61.31% of the company’s stock.
PACCAR Inc. (NASDAQ PCAR) opened at 67.21 on Thursday. The firm has a market cap of $23.61 billion, a P/E ratio of 17.99 and a beta of 1.14. The stock has a 50 day moving average price of $67.13 and a 200-day moving average price of $66.56. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. Analysts predict that PACCAR Inc. will post $4.00 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s dividend payout ratio is currently 26.74%.
Several equities research analysts have commented on PCAR shares. BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, June 15th. Bank of America Corporation downgraded PACCAR from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $70.00 in a report on Thursday, May 11th. Finally, OTR Global upgraded PACCAR to a “positive” rating in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. PACCAR currently has a consensus rating of “Hold” and a consensus target price of $72.00.
In other news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.64% of the company’s stock.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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