Rational Advisors LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400 shares of the company’s stock after selling 200 shares during the quarter. Rational Advisors LLC’s holdings in PACCAR were worth $80,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PCAR. Virginia Retirement Systems ET AL lifted its holdings in shares of PACCAR by 29.0% during the 4th quarter. Virginia Retirement Systems ET AL now owns 295,300 shares of the company’s stock worth $16,873,000 after acquiring an additional 66,400 shares during the period. Piedmont Investment Advisors Inc. lifted its holdings in shares of PACCAR by 3.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 80,230 shares of the company’s stock worth $4,584,000 after acquiring an additional 2,508 shares during the period. HL Financial Services LLC bought a new stake in shares of PACCAR during the 4th quarter worth approximately $552,000. Westpac Banking Corp lifted its holdings in shares of PACCAR by 477.5% during the 4th quarter. Westpac Banking Corp now owns 131,100 shares of the company’s stock worth $7,491,000 after acquiring an additional 108,400 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of PACCAR by 39.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 134,782 shares of the company’s stock worth $7,701,000 after acquiring an additional 38,224 shares during the period. 60.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on PCAR shares. Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, February 1st. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Mizuho dropped coverage on shares of PACCAR in a report on Thursday, October 25th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $68.72.
In other PACCAR news, SVP Darrin C. Siver sold 8,088 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $68.81, for a total value of $556,535.28. Following the completion of the sale, the senior vice president now directly owns 24,335 shares in the company, valued at $1,674,491.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 820 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $65.75, for a total transaction of $53,915.00. Following the completion of the sale, the vice president now owns 2,446 shares of the company’s stock, valued at $160,824.50. The disclosure for this sale can be found here. Insiders sold 58,763 shares of company stock valued at $3,938,622 over the last 90 days. Corporate insiders own 2.64% of the company’s stock.
PCAR opened at $69.17 on Friday. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $72.89. The company has a quick ratio of 0.98, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. The firm has a market cap of $24.20 billion, a PE ratio of 11.08, a PEG ratio of 1.00 and a beta of 1.32.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.08. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 12th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. This is a boost from PACCAR’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 20.51%.
PACCAR declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 4th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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PACCAR Company Profile
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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