Schroder Investment Management Group Raises Stake in PACCAR Inc. (PCAR)
Schroder Investment Management Group raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 500.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,140 shares of the company’s stock after acquiring an additional 96,806 shares during the quarter. Schroder Investment Management Group’s holdings in PACCAR were worth $7,585,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc grew its stake in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after acquiring an additional 890 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after acquiring an additional 1,157 shares in the last quarter. Cadinha & Co. LLC bought a new position in shares of PACCAR during the 1st quarter worth approximately $202,000. Finally, Bluestein R H & Co. bought a new position in shares of PACCAR during the 1st quarter worth approximately $202,000. 62.12% of the stock is owned by institutional investors.
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In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. 2.64% of the stock is owned by corporate insiders.
Shares of PACCAR Inc. (PCAR) opened at 69.92 on Monday. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32. The firm’s 50-day moving average price is $66.25 and its 200 day moving average price is $66.12. The firm has a market cap of $24.57 billion, a P/E ratio of 18.72 and a beta of 1.15.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. Analysts predict that PACCAR Inc. will post $4.00 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. PACCAR’s dividend payout ratio (DPR) is presently 26.74%.
PCAR has been the subject of several research reports. Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 price target on shares of PACCAR in a research note on Friday, September 1st. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, UBS AG set a $75.00 price target on shares of PACCAR and gave the stock a “buy” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $71.74.
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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