Stifel Financial Corp Sells 1,855 Shares of PACCAR Inc. (PCAR)
Stifel Financial Corp lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,394 shares of the company’s stock after selling 1,855 shares during the quarter. Stifel Financial Corp’s holdings in PACCAR were worth $8,418,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in 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 during the last quarter. State of Alaska Department of Revenue boosted its position in 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 during the last quarter. Perkins Coie Trust Co boosted its position in 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 during the last quarter. Bluestein R H & Co. acquired a new position in PACCAR during the 1st quarter worth approximately $202,000. Finally, Davis Selected Advisers boosted its position in PACCAR by 0.4% during the 2nd quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock worth $208,000 after acquiring an additional 12 shares during the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.
Shares of PACCAR Inc. (PCAR) opened at 74.36 on Thursday. The company has a market cap of $26.13 billion, a PE ratio of 19.90 and a beta of 1.18. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $74.66. The company has a 50-day moving average price of $68.13 and a 200-day moving average price of $66.49.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that PACCAR Inc. will post $4.00 earnings per share for the current fiscal 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 given a $0.25 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.34%. PACCAR’s dividend payout ratio is currently 26.74%.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’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 transaction, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.
PCAR has been the topic of a number of analyst reports. BidaskClub cut PACCAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, June 15th. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, September 5th. Buckingham Research initiated coverage on PACCAR in a research note on Tuesday, September 5th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, ValuEngine upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.17.
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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