Kinsale Capital Group Inc. Has $7.35 Million Stake in PACCAR Inc. $PCAR

Kinsale Capital Group Inc. raised its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 11.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 77,365 shares of the company’s stock after acquiring an additional 8,126 shares during the period. PACCAR accounts for 1.5% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 28th biggest position. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $7,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wedbush Securities Inc. lifted its holdings in shares of PACCAR by 2.5% during the 2nd quarter. Wedbush Securities Inc. now owns 14,353 shares of the company’s stock valued at $1,364,000 after buying an additional 346 shares during the last quarter. Smart Money Group LLC raised its position in PACCAR by 16.7% during the second quarter. Smart Money Group LLC now owns 9,877 shares of the company’s stock valued at $939,000 after acquiring an additional 1,415 shares in the last quarter. Savant Capital LLC lifted its stake in PACCAR by 7.4% in the second quarter. Savant Capital LLC now owns 13,743 shares of the company’s stock valued at $1,306,000 after acquiring an additional 945 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in PACCAR by 4.8% in the second quarter. Texas Yale Capital Corp. now owns 142,478 shares of the company’s stock valued at $13,544,000 after acquiring an additional 6,510 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its position in PACCAR by 37.2% in the second quarter. Soltis Investment Advisors LLC now owns 4,657 shares of the company’s stock worth $443,000 after acquiring an additional 1,263 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.4%

PCAR stock opened at $98.69 on Friday. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a 50-day moving average of $98.31 and a two-hundred day moving average of $96.41. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCAR. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a research note on Tuesday, October 21st. Zacks Research lowered PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, July 28th. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Finally, Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.59.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.