Paccar Inc. (PCAR) Shares Sold by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC reduced its stake in shares of Paccar Inc. (NASDAQ:PCAR) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,559 shares of the company’s stock after selling 3,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Paccar were worth $9,790,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of Paccar during the second quarter worth $54,296,000. Kleinwort Benson Investors Dublin Ltd purchased a new position in shares of Paccar during the second quarter worth $42,310,000. Capital World Investors raised its position in shares of Paccar by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock worth $622,725,000 after buying an additional 453,000 shares during the period. BlackRock Inc. raised its position in shares of Paccar by 32.9% in the second quarter. BlackRock Inc. now owns 1,821,434 shares of the company’s stock worth $94,478,000 after buying an additional 450,710 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Paccar by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock worth $473,596,000 after buying an additional 381,482 shares during the period. Hedge funds and other institutional investors own 60.50% of the company’s stock.
Paccar Inc. (NASDAQ:PCAR) traded down 1.61% during midday trading on Monday, hitting $61.00. The company had a trading volume of 1,462,743 shares. The firm’s 50 day moving average is $57.53 and its 200-day moving average is $56.63. The firm has a market capitalization of $21.38 billion, a P/E ratio of 37.13 and a beta of 1.30. Paccar Inc. has a 52 week low of $43.46 and a 52 week high of $62.22.
Paccar (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.01. The company earned $4.25 billion during the quarter, compared to the consensus estimate of $4.08 billion. Paccar had a return on equity of 20.96% and a net margin of 3.41%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the firm posted $1.21 EPS. On average, equities research analysts expect that Paccar Inc. will post $3.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. Paccar’s payout ratio is 58.54%.
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PCAR has been the topic of a number of recent research reports. Zacks Investment Research upgraded Paccar from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Deutsche Bank AG initiated coverage on Paccar in a research note on Tuesday, September 6th. They set a “hold” rating and a $63.00 target price on the stock. TheStreet lowered Paccar from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. initiated coverage on Paccar in a research report on Friday, September 30th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Jefferies Group increased their price target on Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Paccar presently has a consensus rating of “Hold” and a consensus target price of $56.13.
In other Paccar news, insider Mark C. Pigott sold 112,266 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $55.47, for a total transaction of $6,227,395.02. Following the sale, the insider now owns 2,998,711 shares of the company’s stock, valued at approximately $166,338,499.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider T. Kyle Quinn sold 3,024 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $54.80, for a total transaction of $165,715.20. Following the sale, the insider now directly owns 16,672 shares in the company, valued at approximately $913,625.60. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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