Mangrove Partners IM LLC Buys New Stake in PACCAR Inc. $PCAR

Mangrove Partners IM LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,473 shares of the company’s stock, valued at approximately $833,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC grew its stake in shares of PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of PACCAR in the 3rd quarter worth approximately $32,000. AlphaQuest LLC bought a new position in shares of PACCAR during the 3rd quarter worth approximately $38,000. Westside Investment Management Inc. lifted its position in shares of PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Finally, Rothschild Investment LLC lifted its position in shares of PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after buying an additional 454 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. This represents a 70.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. The trade was a 66.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 in the last 90 days. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Down 1.3%

PCAR stock opened at $115.34 on Friday. The business has a fifty day moving average price of $122.79 and a 200 day moving average price of $109.18. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The stock has a market capitalization of $60.66 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on PCAR. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Profile

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.