Sterling Capital Management LLC Has $1.17 Million Stock Position in PACCAR Inc. $PCAR

Sterling Capital Management LLC boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 945.3% in the 1st quarter, Holdings Channel reports. The firm owned 10,160 shares of the company’s stock after buying an additional 9,188 shares during the period. Sterling Capital Management LLC’s holdings in PACCAR were worth $1,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after buying an additional 3,597,283 shares during the last quarter. State Street Corp lifted its position in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Finally, Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at about $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.9%

Shares of PCAR stock opened at $119.60 on Tuesday. The firm has a market capitalization of $62.94 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.12 and a beta of 0.98. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $116.86 and its 200 day simple moving average is $118.55.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Analyst Ratings Changes

PCAR has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.00.

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.