Caxton Associates LP Buys New Stake in PACCAR Inc. (PCAR)
Caxton Associates LP bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,000 shares of the company’s stock, valued at approximately $2,170,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Boston Partners purchased a new stake in PACCAR in the third quarter valued at approximately $155,973,000. Principal Financial Group Inc. raised its position in PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after purchasing an additional 2,038,761 shares during the period. BlackRock Inc. raised its position in PACCAR by 6.6% in the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after purchasing an additional 1,572,038 shares during the period. Renaissance Technologies LLC purchased a new stake in PACCAR in the second quarter valued at approximately $82,298,000. Finally, Vanguard Group Inc. raised its position in PACCAR by 5.0% in the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after purchasing an additional 1,164,896 shares during the period. 62.36% of the stock is currently owned by institutional investors.
PACCAR Inc. (NASDAQ:PCAR) opened at $71.97 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The company has a market cap of $25,041.68, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.70 and a beta of 1.22. PACCAR Inc. has a 12 month low of $61.93 and a 12 month high of $75.68.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. analysts expect that PACCAR Inc. will post 4.18 EPS for the current year.
The company also recently announced a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s payout ratio is currently 25.64%.
PCAR has been the topic of a number of recent research reports. BidaskClub lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. UBS set a $79.00 price objective on PACCAR and gave the stock a “buy” rating in a research report on Thursday, November 30th. J P Morgan Chase & Co set a $83.00 price objective on PACCAR and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Susquehanna Bancshares initiated coverage on PACCAR in a research report on Wednesday, November 29th. They set a “neutral” rating and a $75.00 price objective on the stock. Finally, Citigroup lowered PACCAR from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $81.00 to $75.00 in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $75.60.
In related news, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the transaction, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,598 shares of company stock valued at $7,597,908. Insiders own 2.64% of the company’s stock.
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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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