Cetera Advisor Networks LLC Reduces Stake in PACCAR Inc. (PCAR)
Cetera Advisor Networks LLC lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 25.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,538 shares of the company’s stock after selling 1,518 shares during the quarter. Cetera Advisor Networks LLC’s holdings in PACCAR were worth $331,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PCAR. IFP Advisors Inc lifted its holdings 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 acquiring an additional 890 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares during the period. Sun Life Financial INC increased its stake in shares of PACCAR by 19,884.6% in the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares during the period. Institute for Wealth Management LLC. acquired a new position in shares of PACCAR in the second quarter valued at approximately $201,000. Finally, Cetera Investment Advisers acquired a new position in shares of PACCAR in the second quarter valued at approximately $204,000. 62.36% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, August 29th. Buckingham Research assumed coverage on PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $77.00 price objective on shares of PACCAR in a research note on Tuesday, October 3rd. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, J P Morgan Chase & Co downgraded PACCAR from an “overweight” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $75.15.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at $69.16 on Friday. The firm has a market cap of $24,647.88, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75. PACCAR Inc. has a 52-week low of $61.93 and a 52-week high of $75.68.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. equities research analysts forecast that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be given a dividend of $1.20 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 13th. PACCAR’s dividend payout ratio is presently 25.64%.
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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