BI Asset Management Fondsmaeglerselskab A S Sells 37,894 Shares of PACCAR Inc. $PCAR

BI Asset Management Fondsmaeglerselskab A S trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 56.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,373 shares of the company’s stock after selling 37,894 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PACCAR were worth $2,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Savant Capital LLC raised its stake in shares of PACCAR by 8.8% in the 3rd quarter. Savant Capital LLC now owns 14,950 shares of the company’s stock valued at $1,470,000 after buying an additional 1,207 shares in the last quarter. Machina Capital S.A.S. bought a new stake in PACCAR in the third quarter valued at about $2,231,000. Hantz Financial Services Inc. raised its position in PACCAR by 97.5% in the third quarter. Hantz Financial Services Inc. now owns 869 shares of the company’s stock worth $85,000 after purchasing an additional 429 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in PACCAR by 6.2% in the third quarter. Premier Path Wealth Partners LLC now owns 3,643 shares of the company’s stock worth $358,000 after purchasing an additional 214 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its stake in PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 0.1%

Shares of NASDAQ:PCAR opened at $127.35 on Friday. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The firm has a market cap of $66.88 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.07 and a beta of 1.03. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $116.12 and its two-hundred day moving average price is $104.88.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the business earned $1.66 earnings per share. PACCAR’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Truist Financial lifted their price objective on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a report on Tuesday. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.50.

Insider Transactions at PACCAR

In related news, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the sale, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the sale, the vice president directly owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 130,905 shares of company stock worth $16,582,144. Corporate insiders own 2.02% of the company’s stock.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.