Valeo Financial Advisors LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 85.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,148 shares of the company’s stock after purchasing an additional 990 shares during the quarter. Valeo Financial Advisors LLC’s holdings in PACCAR were worth $123,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vigilant Capital Management LLC bought a new stake in PACCAR in the second quarter valued at about $105,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in PACCAR by 5,888.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after acquiring an additional 2,002 shares during the period. Amussen Hunsaker Associates LLC acquired a new position in PACCAR in the second quarter valued at about $132,000. HighPoint Advisor Group LLC acquired a new position in PACCAR in the third quarter valued at about $178,000. Finally, CWM Advisors LLC acquired a new position in PACCAR in the second quarter valued at about $203,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
PCAR stock opened at $58.30 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.69. The stock has a market cap of $20.44 billion, a PE ratio of 13.69, a PEG ratio of 0.88 and a beta of 1.39. PACCAR Inc has a fifty-two week low of $53.95 and a fifty-two week high of $79.69.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. PACCAR’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc will post 6.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. PACCAR’s dividend payout ratio is currently 26.29%.
PACCAR declared that its board has authorized a stock repurchase program on Monday, July 9th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on the company. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday, October 25th. ValuEngine raised PACCAR from a “strong sell” rating to a “sell” rating in a research note on Thursday. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Citigroup boosted their target price on PACCAR from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, Morgan Stanley set a $58.00 target price on PACCAR and gave the company a “sell” rating in a research note on Wednesday, October 24th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.73.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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