BNP Paribas Arbitrage SA Has $2.92 Million Stake in PACCAR Inc. (PCAR)
BNP Paribas Arbitrage SA decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 86.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 44,244 shares of the company’s stock after selling 293,971 shares during the period. BNP Paribas Arbitrage SA’s holdings in PACCAR were worth $2,922,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the period. IFP Advisors Inc boosted its stake in shares of PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the period. Finally, Perkins Coie Trust Co boosted 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 during the period. 62.69% of the stock is owned by institutional investors and hedge funds.
Shares of PACCAR Inc. (PCAR) opened at 64.40 on Tuesday. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32. The stock has a 50 day moving average price of $66.90 and a 200-day moving average price of $66.27. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 17.24 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc. will post $3.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, August 14th. PACCAR’s payout ratio is 26.74%.
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A number of research analysts have issued reports on PCAR shares. UBS AG raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $66.00 to $75.00 in a research note on Tuesday, June 6th. BidaskClub cut PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Group LLC set a $77.00 target price on PACCAR and gave the company a “buy” rating in a research note on Sunday, May 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $72.00 target price (up from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.67.
In other news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.64% of the company’s stock.
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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