Alberta Investment Management Corp increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 60.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,100 shares of the company’s stock after acquiring an additional 13,200 shares during the quarter. Alberta Investment Management Corp’s holdings in PACCAR were worth $2,146,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors increased its position in PACCAR by 32.2% during the fourth quarter. Capital World Investors now owns 6,345,096 shares of the company’s stock worth $501,897,000 after acquiring an additional 1,545,450 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,696,346 shares of the company’s stock worth $449,902,000 after acquiring an additional 18,267 shares during the period. FMR LLC increased its position in PACCAR by 86.6% during the fourth quarter. FMR LLC now owns 3,682,968 shares of the company’s stock worth $291,323,000 after acquiring an additional 1,709,740 shares during the period. Norges Bank bought a new position in PACCAR during the fourth quarter worth $283,130,000. Finally, Goldman Sachs Group Inc. increased its position in PACCAR by 21.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,842,569 shares of the company’s stock worth $224,846,000 after acquiring an additional 507,900 shares during the period. 62.30% of the stock is currently owned by institutional investors and hedge funds.
PACCAR stock opened at $68.42 on Friday. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.75. PACCAR Inc has a 1 year low of $49.11 and a 1 year high of $83.41. The company has a market cap of $23.58 billion, a PE ratio of 11.23, a PEG ratio of 2.42 and a beta of 1.11. The company’s 50-day moving average is $66.95 and its two-hundred day moving average is $72.78.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.18). PACCAR had a net margin of 8.73% and a return on equity of 21.76%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was down 22.2% on a year-over-year basis. Research analysts forecast that PACCAR Inc will post 2.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.085 per share. The ex-dividend date was Thursday, April 30th. This represents a $0.34 dividend on an annualized basis and a yield of 0.50%. PACCAR’s payout ratio is presently 18.63%.
A number of equities analysts recently issued reports on PCAR shares. UBS Group boosted their target price on shares of PACCAR from $69.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $77.00 price target on the stock in a report on Thursday, April 2nd. They noted that the move was a valuation call. ValuEngine lowered shares of PACCAR from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Morgan Stanley boosted their price target on shares of PACCAR from $55.00 to $59.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research raised shares of PACCAR from an “underperform” rating to a “market perform” rating in a report on Friday, March 27th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $74.50.
In other news, CFO Harrie Schippers sold 4,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $68.81, for a total value of $275,240.00. Following the completion of the sale, the chief financial officer now directly owns 41,515 shares of the company’s stock, valued at approximately $2,856,647.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Douglas S. Grandstaff sold 1,431 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $70.00, for a total value of $100,170.00. Following the completion of the sale, the vice president now directly owns 6,921 shares of the company’s stock, valued at $484,470. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,387 shares of company stock worth $505,210. Corporate insiders own 2.18% of the company’s stock.
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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