Brighton Jones LLC Purchases Shares of 50,549 PACCAR Inc. (PCAR)
Brighton Jones LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,549 shares of the company’s stock, valued at approximately $3,338,000. PACCAR comprises 0.5% of Brighton Jones LLC’s holdings, making the stock its 25th largest position.
A number of other institutional investors have also bought and sold shares of PCAR. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PACCAR by 162.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,526 shares of the company’s stock worth $11,195,000 after buying an additional 104,987 shares in the last quarter. Pacer Advisors Inc. raised its position in PACCAR by 13.8% in the second quarter. Pacer Advisors Inc. now owns 11,635 shares of the company’s stock worth $768,000 after buying an additional 1,413 shares in the last quarter. Utah Retirement Systems raised its position in PACCAR by 0.3% in the second quarter. Utah Retirement Systems now owns 62,846 shares of the company’s stock worth $4,151,000 after buying an additional 200 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in PACCAR by 22.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 89,468 shares of the company’s stock worth $5,908,000 after buying an additional 16,375 shares in the last quarter. Finally, Airain ltd acquired a new position in PACCAR during the second quarter worth about $9,958,000. 62.69% of the stock is owned by institutional investors.
PACCAR Inc. (PCAR) traded up 0.55% during midday trading on Monday, reaching $64.36. 154,845 shares of the company were exchanged. PACCAR Inc. has a 52-week low of $53.38 and a 52-week high of $70.32. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of 17.23 and a beta of 1.14. The company has a 50 day moving average of $66.90 and a 200-day moving average of $66.27.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post $3.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s payout ratio is 26.74%.
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A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, August 22nd. BidaskClub lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Sunday, August 20th. UBS AG reissued a “buy” rating and set a $76.00 price target (up from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. raised their price target on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $71.67.
In other news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is owned by company 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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