PACCAR Inc. $PCAR Shares Bought by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,480 shares of the company’s stock after buying an additional 7,400 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in PACCAR were worth $9,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Assenagon Asset Management S.A. lifted its position in PACCAR by 1,756.3% during the second quarter. Assenagon Asset Management S.A. now owns 732,745 shares of the company’s stock valued at $88,017,000 after purchasing an additional 693,272 shares during the period. GAMMA Investing LLC raised its stake in shares of PACCAR by 1.1% during the 2nd quarter. GAMMA Investing LLC now owns 13,636 shares of the company’s stock valued at $1,638,000 after buying an additional 153 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of PACCAR in the 1st quarter valued at about $141,000. Glenmede Trust Co. NA lifted its holdings in shares of PACCAR by 4.3% in the 1st quarter. Glenmede Trust Co. NA now owns 14,065 shares of the company’s stock valued at $1,625,000 after buying an additional 583 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in shares of PACCAR by 839.7% in the first quarter. Edgestream Partners L.P. now owns 35,174 shares of the company’s stock worth $4,063,000 after buying an additional 31,431 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCAR has been the topic of several analyst reports. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Morgan Stanley set a $119.00 price target on PACCAR in a report on Wednesday, July 29th. Truist Financial upped their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $131.70.

PACCAR Price Performance

Shares of PACCAR stock opened at $133.11 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The business has a 50-day moving average price of $123.62 and a 200 day moving average price of $121.33. The firm has a market cap of $70.06 billion, a PE ratio of 27.96, a P/E/G ratio of 1.06 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. PACCAR’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Insiders Place Their Bets

In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

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.