OP Asset Management Ltd Purchases New Holdings in PACCAR Inc. $PCAR

OP Asset Management Ltd acquired a new position in PACCAR Inc. (NASDAQ:PCAR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 53,054 shares of the company’s stock, valued at approximately $6,128,000.

Other large investors have also recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after buying an additional 9,045 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of PACCAR by 12.6% in the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after purchasing an additional 15,169 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $121.68 on Friday. The stock has a 50-day moving average price of $117.01 and a two-hundred day moving average price of $118.40. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $131.88. The stock has a market cap of $64.04 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. Equities analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Analyst Ratings Changes

PCAR has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Finally, BNP Paribas Exane initiated coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $122.00.

About PACCAR

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.