KCS Wealth Advisory lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,319 shares of the company’s stock after acquiring an additional 487 shares during the quarter. PACCAR accounts for about 1.2% of KCS Wealth Advisory’s investment portfolio, making the stock its 14th biggest position. KCS Wealth Advisory’s holdings in PACCAR were worth $1,456,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BP PLC bought a new position in shares of PACCAR during the second quarter valued at approximately $2,508,000. SG Americas Securities LLC boosted its position in shares of PACCAR by 1,013.5% during the second quarter. SG Americas Securities LLC now owns 91,697 shares of the company’s stock worth $6,571,000 after buying an additional 83,462 shares during the period. Advisor Partners LLC boosted its position in shares of PACCAR by 6.9% during the second quarter. Advisor Partners LLC now owns 7,391 shares of the company’s stock worth $530,000 after buying an additional 480 shares during the period. PGGM Investments boosted its position in shares of PACCAR by 30.0% during the second quarter. PGGM Investments now owns 471,573 shares of the company’s stock worth $33,793,000 after buying an additional 108,873 shares during the period. Finally, Creative Planning boosted its position in shares of PACCAR by 8.2% during the second quarter. Creative Planning now owns 16,942 shares of the company’s stock worth $1,214,000 after buying an additional 1,282 shares during the period. 63.32% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on PCAR shares. Loop Capital downgraded PACCAR from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Longbow Research downgraded PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price objective for the company. in a research report on Monday, May 6th. Morgan Stanley boosted their price objective on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upgraded PACCAR from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $66.00 in a research report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $68.89.
PCAR opened at $66.50 on Friday. The firm has a market capitalization of $22.70 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 1.40. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $73.00. The business has a 50 day moving average price of $70.28.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. As a group, research analysts predict that PACCAR Inc will post 6.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.92%. PACCAR’s dividend payout ratio (DPR) is 20.51%.
In other PACCAR news, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the sale, the vice president now directly owns 8,401 shares in the company, valued at $581,097.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Danforth sold 848 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $71.66, for a total value of $60,767.68. Following the completion of the sale, the vice president now owns 4,958 shares of the company’s stock, valued at $355,290.28. The disclosure for this sale can be found here. Insiders sold 18,834 shares of company stock valued at $1,309,805 over the last 90 days. 2.32% of the stock is currently owned by insiders.
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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