Headinvest LLC Has $1,358,000 Position in PACCAR Inc. (PCAR)
Headinvest LLC held its stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel reports. The fund owned 20,564 shares of the company’s stock at the end of the second quarter. Headinvest LLC’s holdings in PACCAR were worth $1,358,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP acquired a new position in shares of PACCAR during the first quarter valued at approximately $577,000. Thrivent Financial for Lutherans boosted its position in shares of PACCAR by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,177 shares of the company’s stock valued at $778,000 after buying an additional 720 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of PACCAR during the first quarter valued at approximately $774,000. Creative Planning boosted its position in shares of PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of PACCAR by 33.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the company’s stock valued at $239,000 after buying an additional 934 shares in the last quarter. Hedge funds and other institutional investors own 61.35% of the company’s stock.
Shares of PACCAR Inc. (PCAR) traded up 0.10% during midday trading on Tuesday, reaching $68.30. 419,122 shares of the company were exchanged. PACCAR Inc. has a 52-week low of $53.21 and a 52-week high of $70.12. The company has a market capitalization of $23.99 billion, a PE ratio of 16.88 and a beta of 1.14. The stock’s 50-day moving average price is $63.58 and its 200-day moving average price is $66.11.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.88. PACCAR had a net margin of 8.56% and a return on equity of 19.13%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts anticipate that PACCAR Inc. will post $3.72 EPS for the current 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 $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. PACCAR’s payout ratio is currently 24.69%.
Several equities analysts have commented on PCAR shares. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Thursday, June 15th. Bank of America Corporation cut shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $70.00 in a research report on Thursday, May 11th. OTR Global raised shares of PACCAR to a “positive” rating in a research report on Tuesday, April 18th. Deutsche Bank AG raised their price target on shares of PACCAR from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 6th. Finally, BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. PACCAR presently has a consensus rating of “Hold” and an average target price of $69.94.
In other news, VP Alma Lily Ley sold 904 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total value of $60,920.56. Following the transaction, the vice president now directly owns 1,679 shares in the company, valued at approximately $113,147.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.64% of the company’s stock.
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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