Nykredit A S Acquires New Position in PACCAR Inc. $PCAR

Nykredit A S bought a new position in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 160,722 shares of the company’s stock, valued at approximately $19,306,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Paladin Partners LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $27,000. MCF Advisors LLC boosted its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the period. Compass Financial Management LLC bought a new position in PACCAR during the 2nd quarter worth $28,000. Fiduciary Financial Advisors bought a new position in PACCAR during the 2nd quarter worth $28,000. Finally, Steph & Co. acquired a new stake in PACCAR in the first quarter worth $29,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $124.70 on Friday. The firm has a market capitalization of $65.64 billion, a PE ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $127.78 and a 200 day moving average price of $121.80. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued 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. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. On average, sell-side analysts anticipate that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Insider Buying and Selling at PACCAR

In related news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 over the last 90 days. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Finally, Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.30.

PACCAR Company 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.