6,290 Shares in PACCAR Inc. $PCAR Purchased by Lesa Sroufe & Co

Lesa Sroufe & Co purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,290 shares of the company’s stock, valued at approximately $726,000.

A number of other hedge funds also recently made changes to their positions in PCAR. Brighton Jones LLC boosted its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth lifted its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares during the period. Ieq Capital LLC boosted its holdings in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in PACCAR in the 2nd quarter valued at about $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $119.50 on Friday. The stock has a market capitalization of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The business has a fifty day moving average price of $116.34 and a two-hundred day moving average price of $118.72. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88.

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

PACCAR Increases Dividend

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

Wall Street Analyst Weigh In

PCAR has been the subject of several research reports. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.45.

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.