Sanctuary Advisors LLC Reduces Stock Holdings in PACCAR Inc. $PCAR

Sanctuary Advisors LLC reduced its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,155 shares of the company’s stock after selling 6,241 shares during the period. Sanctuary Advisors LLC’s holdings in PACCAR were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sigma Planning Corp increased its holdings in shares of PACCAR by 501.0% during the first quarter. Sigma Planning Corp now owns 11,929 shares of the company’s stock valued at $1,378,000 after acquiring an additional 9,944 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in PACCAR by 11.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,313 shares of the company’s stock worth $729,000 after purchasing an additional 646 shares in the last quarter. Nwam LLC grew its position in PACCAR by 6.5% during the 1st quarter. Nwam LLC now owns 40,359 shares of the company’s stock worth $4,661,000 after purchasing an additional 2,481 shares during the last quarter. Maryland State Retirement & Pension System grew its position in PACCAR by 1.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 25,907 shares of the company’s stock worth $2,992,000 after purchasing an additional 419 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in PACCAR by 1.0% during the 1st quarter. Bleakley Financial Group LLC now owns 10,835 shares of the company’s stock valued at $1,252,000 after purchasing an additional 103 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCAR has been the subject of several research reports. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Truist Financial boosted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.18.

PACCAR Stock Up 1.5%

PACCAR stock opened at $126.25 on Wednesday. The firm has a market cap of $66.44 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $131.88. The business’s 50-day moving average price is $117.82 and its 200 day moving average price is $119.87. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, sell-side analysts anticipate that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is 29.79%.

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.