Numerai GP LLC Buys 14,908 Shares of PACCAR Inc. $PCAR

Numerai GP LLC lifted its position in PACCAR Inc. (NASDAQ:PCAR) by 124.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,877 shares of the company’s stock after purchasing an additional 14,908 shares during the period. Numerai GP LLC’s holdings in PACCAR were worth $2,643,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Mariner LLC increased its stake in shares of PACCAR by 8.8% during the third quarter. Mariner LLC now owns 82,753 shares of the company’s stock valued at $8,136,000 after buying an additional 6,675 shares during the period. National Bank of Canada FI grew its holdings in PACCAR by 4.4% during the 3rd quarter. National Bank of Canada FI now owns 528,325 shares of the company’s stock worth $51,945,000 after acquiring an additional 22,321 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in PACCAR by 19.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 196,284 shares of the company’s stock worth $19,299,000 after acquiring an additional 32,168 shares in the last quarter. Mirabella Financial Services LLP increased its position in PACCAR by 657.6% during the 3rd quarter. Mirabella Financial Services LLP now owns 83,924 shares of the company’s stock valued at $8,214,000 after purchasing an additional 72,847 shares during the period. Finally, L2 Asset Management LLC raised its holdings in shares of PACCAR by 5.2% in the 3rd quarter. L2 Asset Management LLC now owns 2,467 shares of the company’s stock valued at $243,000 after purchasing an additional 122 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Kevin D. Baney sold 9,672 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the transaction, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This represents a 43.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Up 0.3%

Shares of PACCAR stock opened at $115.63 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The company has a market cap of $60.81 billion, a P/E ratio of 25.64, a PEG ratio of 0.97 and a beta of 1.03. The firm’s 50 day moving average price is $122.84 and its 200-day moving average price is $109.40. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. PACCAR’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Truist Financial boosted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.