PACCAR Inc. (PCAR) Stake Decreased by SG Americas Securities LLC
SG Americas Securities LLC decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 91.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,950 shares of the company’s stock after selling 89,201 shares during the period. SG Americas Securities LLC’s holdings in PACCAR were worth $525,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. BlackRock Inc. boosted its stake in shares of PACCAR by 2,119.4% in the first quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock worth $1,608,519,000 after acquiring an additional 22,857,778 shares during the period. Victory Capital Management Inc. boosted its stake in shares of PACCAR by 25,225.9% in the first quarter. Victory Capital Management Inc. now owns 1,669,483 shares of the company’s stock worth $112,190,000 after acquiring an additional 1,662,891 shares during the period. FMR LLC boosted its stake in shares of PACCAR by 20.7% in the first quarter. FMR LLC now owns 4,832,949 shares of the company’s stock worth $324,775,000 after acquiring an additional 829,031 shares during the period. Vanguard Group Inc. boosted its stake in shares of PACCAR by 3.3% in the first quarter. Vanguard Group Inc. now owns 23,390,459 shares of the company’s stock worth $1,571,839,000 after acquiring an additional 754,689 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of PACCAR in the first quarter worth about $49,049,000. 62.69% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on PCAR shares. Zacks Investment Research lowered PACCAR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered PACCAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, June 15th. Citigroup Inc. upped their price objective on PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, UBS AG set a $75.00 price objective on PACCAR and gave the stock a “buy” rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $71.74.
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Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 67.60 on Monday. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $70.32. The stock has a 50 day moving average price of $66.21 and a 200 day moving average price of $66.09. The company has a market capitalization of $23.75 billion, a price-to-earnings ratio of 18.09 and a beta of 1.15.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The business had revenue of $4.40 billion for 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%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities analysts anticipate that PACCAR Inc. will post $4.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, August 14th. PACCAR’s dividend payout ratio is currently 26.74%.
In other news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the transaction, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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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