PACCAR Inc. (NASDAQ:PCAR) Position Boosted by Peak Asset Management LLC
Peak Asset Management LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,855 shares of the company’s stock after buying an additional 6,721 shares during the period. PACCAR accounts for 2.2% of Peak Asset Management LLC’s holdings, making the stock its 16th largest position. Peak Asset Management LLC’s holdings in PACCAR were worth $5,934,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. raised its position in PACCAR by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,348 shares of the company’s stock worth $587,000 after buying an additional 423 shares during the period. Nationwide Fund Advisors increased its stake in shares of PACCAR by 161.4% in the first quarter. Nationwide Fund Advisors now owns 251,835 shares of the company’s stock valued at $16,923,000 after buying an additional 155,495 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of PACCAR by 20.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,474 shares of the company’s stock valued at $2,451,000 after buying an additional 6,127 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of PACCAR during the first quarter valued at about $1,665,000. Finally, Boston Advisors LLC increased its stake in shares of PACCAR by 3,813.3% in the first quarter. Boston Advisors LLC now owns 184,510 shares of the company’s stock valued at $12,399,000 after buying an additional 179,795 shares in the last quarter. Institutional investors and hedge funds own 61.39% of the company’s stock.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 68.58 on Friday. The firm has a 50-day moving average price of $66.57 and a 200-day moving average price of $66.49. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 18.36 and a beta of 1.14. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. Equities research analysts anticipate that PACCAR Inc. will post $3.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio is 26.74%.
PCAR has been the subject of several research analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of PACCAR in a research note on Thursday, April 20th. Piper Jaffray Companies downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $66.00 in a research note on Tuesday, April 18th. Credit Suisse Group set a $68.00 price objective on PACCAR and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Barclays PLC set a $56.00 price objective on PACCAR and gave the stock a “sell” rating in a research note on Wednesday, April 26th. Finally, Zacks Investment Research downgraded PACCAR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. PACCAR currently has a consensus rating of “Hold” and an average target price of $72.00.
In other news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is owned by corporate insiders.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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