Osaic Holdings Inc. Buys 32,476 Shares of PACCAR Inc. $PCAR

Osaic Holdings Inc. lifted its position in PACCAR Inc. (NASDAQ:PCAR) by 161.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,648 shares of the company’s stock after purchasing an additional 32,476 shares during the quarter. Osaic Holdings Inc.’s holdings in PACCAR were worth $5,072,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PCAR. Norges Bank bought a new stake in PACCAR during the second quarter worth about $472,520,000. The Manufacturers Life Insurance Company boosted its holdings in shares of PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after acquiring an additional 1,677,736 shares in the last quarter. Jones Financial Companies Lllp grew its position in PACCAR by 16,393.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock worth $139,402,000 after acquiring an additional 1,422,992 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in PACCAR by 25.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in PACCAR in the 2nd quarter valued at $83,658,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.0%

Shares of NASDAQ PCAR opened at $111.72 on Wednesday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $115.43. The firm’s 50-day moving average is $102.92 and its 200-day moving average is $99.35. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $58.68 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 15.43 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share 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 $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the firm earned $1.85 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. Equities analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s dividend payout ratio is 25.83%.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction 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 sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PCAR. Citigroup reissued a “neutral” rating and issued a $115.00 price objective (up previously from $105.00) on shares of PACCAR in a research note on Thursday, December 11th. Truist Financial increased their price objective on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $125.00 price objective on shares of PACCAR in a research report on Friday, December 5th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Morgan Stanley set a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Company 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.