PACCAR Inc (NASDAQ:PCAR) Shares Sold by Tredje AP fonden
Tredje AP fonden lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,260 shares of the company’s stock after selling 5,680 shares during the quarter. Tredje AP fonden’s holdings in PACCAR were worth $1,544,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of PACCAR by 0.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,765 shares of the company’s stock valued at $1,247,000 after buying an additional 144 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of PACCAR by 2.1% during the 1st quarter. Clearbridge Investments LLC now owns 7,416 shares of the company’s stock valued at $453,000 after buying an additional 156 shares in the last quarter. KCS Wealth Advisory lifted its position in shares of PACCAR by 0.8% during the 1st quarter. KCS Wealth Advisory now owns 21,384 shares of the company’s stock valued at $1,307,000 after buying an additional 163 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of PACCAR by 15.6% during the 1st quarter. CSat Investment Advisory L.P. now owns 1,331 shares of the company’s stock valued at $81,000 after buying an additional 180 shares in the last quarter. Finally, Fruth Investment Management lifted its position in shares of PACCAR by 3.8% during the 1st quarter. Fruth Investment Management now owns 5,500 shares of the company’s stock valued at $336,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.
PCAR has been the topic of a number of research reports. Piper Sandler lowered PACCAR from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $66.00 to $73.00 in a report on Tuesday, May 12th. TheStreet upgraded PACCAR from a “c+” rating to a “b-” rating in a report on Wednesday, April 22nd. BidaskClub upgraded PACCAR from a “strong sell” rating to a “sell” rating in a report on Thursday, May 28th. Citigroup raised their price objective on PACCAR from $80.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and set a $77.00 target price for the company in a research note on Thursday, April 2nd. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.79.
NASDAQ PCAR traded down $0.37 during trading on Friday, hitting $72.88. The stock had a trading volume of 17,949 shares, compared to its average volume of 1,632,410. The company has a market capitalization of $25.07 billion, a PE ratio of 12.01, a PEG ratio of 2.22 and a beta of 1.12. The company has a quick ratio of 2.32, a current ratio of 2.49 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $72.25 and a 200 day moving average price of $71.77. PACCAR Inc has a twelve month low of $49.11 and a twelve month high of $83.41.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 21st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.18). The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.89 billion. PACCAR had a net margin of 8.73% and a return on equity of 21.76%. The business’s revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 12th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, May 11th. PACCAR’s payout ratio is presently 18.63%.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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