PACCAR Inc (PCAR) Shares Bought by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 11.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 174,824 shares of the company’s stock after buying an additional 17,780 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PACCAR were worth $12,426,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Boston Partners purchased a new stake in PACCAR in the 3rd quarter worth approximately $155,973,000. BlackRock Inc. lifted its holdings in PACCAR by 6.6% in the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after buying an additional 1,572,038 shares during the period. Renaissance Technologies LLC purchased a new stake in PACCAR in the 2nd quarter worth approximately $82,298,000. Vanguard Group Inc. lifted its holdings in PACCAR by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after buying an additional 1,164,896 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in PACCAR by 845.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 919,047 shares of the company’s stock worth $66,484,000 after buying an additional 821,847 shares during the period. Institutional investors and hedge funds own 62.26% of the company’s stock.
In related news, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the transaction, the insider now owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,598 shares of company stock valued at $7,597,908. 2.64% of the stock is currently owned by company insiders.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. analysts expect that PACCAR Inc will post 4.19 earnings per share for the current year.
The company also recently announced a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were paid a $1.20 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, December 13th. PACCAR’s payout ratio is presently 25.64%.
Several equities research analysts have weighed in on PCAR shares. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of PACCAR in a report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and issued a $85.00 price objective on shares of PACCAR in a report on Thursday, October 19th. Citigroup increased their price objective on PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. UBS Group reiterated a “buy” rating and issued a $82.00 price objective (up previously from $76.00) on shares of PACCAR in a report on Tuesday, October 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $77.00 price objective on shares of PACCAR in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.32.
PACCAR Company Profile
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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