LS Investment Advisors LLC Has $833,000 Position in Paccar Inc. (PCAR)
LS Investment Advisors LLC increased its stake in Paccar Inc. (NASDAQ:PCAR) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 16,058 shares of the company’s stock after buying an additional 132 shares during the period. LS Investment Advisors LLC’s holdings in Paccar were worth $833,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of PCAR. NN Investment Partners Holdings N.V. bought a new stake in shares of Paccar during the first quarter valued at approximately $111,000. Meeder Asset Management Inc. bought a new stake in shares of Paccar during the first quarter valued at approximately $224,000. BlueMountain Capital Management LLC increased its stake in shares of Paccar by 796.3% in the first quarter. BlueMountain Capital Management LLC now owns 4,338 shares of the company’s stock valued at $237,000 after buying an additional 3,854 shares during the period. Advisor Partners LLC bought a new stake in shares of Paccar during the first quarter valued at approximately $302,000. Finally, Virginia Retirement System bought a new stake in shares of Paccar during the first quarter valued at approximately $313,000. 62.23% of the stock is owned by hedge funds and other institutional investors.
Paccar Inc. (NASDAQ:PCAR) traded up 0.03% during midday trading on Wednesday, reaching $57.45. The company’s stock had a trading volume of 2,283,684 shares. Paccar Inc. has a one year low of $43.46 and a one year high of $60.86. The firm has a 50 day moving average price of $58.34 and a 200 day moving average price of $56.21. The firm has a market cap of $20.14 billion, a P/E ratio of 30.49 and a beta of 1.51.
Paccar (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The business’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Equities research analysts forecast that Paccar Inc. will post $3.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.67%. The ex-dividend date is Wednesday, November 16th. Paccar’s payout ratio is currently 51.34%.
Several analysts have recently commented on the company. Bank of America Corp. reissued a “buy” rating on shares of Paccar in a research note on Thursday, June 16th. Zacks Investment Research raised Paccar from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Barclays PLC upped their target price on Paccar from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Wednesday. Jefferies Group upped their target price on Paccar from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Finally, JPMorgan Chase & Co. lowered Paccar from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $58.00 to $47.00 in a report on Monday, June 27th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. Paccar has a consensus rating of “Hold” and an average target price of $56.33.
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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