Mycio Wealth Partners LLC Continues to Hold Position in PACCAR Inc. (PCAR)
Mycio Wealth Partners LLC continued to hold its stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,589 shares of the company’s stock at the end of the second quarter. Mycio Wealth Partners LLC’s holdings in PACCAR were worth $1,585,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. LMR Partners LLP acquired a new stake in shares of PACCAR during the first quarter worth $577,000. Morse Asset Management Inc acquired a new stake in shares of PACCAR during the first quarter worth $774,000. Point72 Europe London LLP acquired a new stake in shares of PACCAR during the first quarter worth $1,137,000. Perkins Coie Trust Co increased its stake in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of PACCAR by 26.2% in the first quarter. M&T Bank Corp now owns 53,051 shares of the company’s stock worth $3,565,000 after buying an additional 11,019 shares in the last quarter. 62.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of PACCAR Inc. (NASDAQ PCAR) traded up 0.30% on Friday, reaching $64.01. The company had a trading volume of 954,425 shares. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32. The company has a market capitalization of $22.49 billion, a PE ratio of 17.13 and a beta of 1.14. The company’s 50-day moving average is $66.90 and its 200-day moving average is $66.27.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc. will post $3.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. PACCAR’s dividend payout ratio is presently 26.74%.
A number of equities research analysts have weighed in on PCAR shares. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. UBS AG set a $75.00 target price on PACCAR and gave the company a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, June 15th. Finally, Bank of America Corporation downgraded PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $70.00 in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $71.67.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.64% of the stock is currently owned by insiders.
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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