KBC Group NV Has $19.99 Million Holdings in PACCAR Inc. $PCAR

KBC Group NV trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,070 shares of the company’s stock after selling 83,311 shares during the quarter. KBC Group NV’s holdings in PACCAR were worth $19,990,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after buying an additional 9,524 shares during the period. Nordea Investment Management AB raised its position in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after buying an additional 13,668 shares during the period. Merit Financial Group LLC lifted its stake in PACCAR by 165.8% in the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after acquiring an additional 15,169 shares in the last quarter. Vanguard Group Inc. lifted its stake in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its position in PACCAR by 118.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after acquiring an additional 345,937 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research analyst reports. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial increased their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Morgan Stanley boosted their price objective on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.18.

PACCAR Stock Up 1.5%

Shares of PCAR stock opened at $126.25 on Wednesday. The stock’s 50 day simple moving average is $117.82 and its 200 day simple moving average is $119.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The company has a market capitalization of $66.44 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.14 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 5.66 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued 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 currently 29.79%.

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.