Sei Investments Co. Raises Position in PACCAR Inc. (PCAR)
Sei Investments Co. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,985 shares of the company’s stock after buying an additional 30,994 shares during the period. Sei Investments Co.’s holdings in PACCAR were worth $11,358,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. LMR Partners LLP bought a new stake in shares of PACCAR during the first quarter valued at about $577,000. Morse Asset Management Inc bought a new stake in shares of PACCAR during the first quarter valued at about $774,000. Creative Planning raised its stake in shares of PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares during the period. Point72 Europe London LLP bought a new stake in shares of PACCAR during the first quarter valued at about $1,137,000. Finally, M&T Bank Corp raised its stake in shares of PACCAR by 26.2% in the first quarter. M&T Bank Corp now owns 53,051 shares of the company’s stock valued at $3,565,000 after buying an additional 11,019 shares during the period. 61.31% of the stock is currently owned by institutional investors.
PACCAR Inc. (NASDAQ PCAR) opened at 67.21 on Thursday. The firm has a market cap of $23.61 billion, a P/E ratio of 17.99 and a beta of 1.14. PACCAR Inc. has a 12 month low of $53.38 and a 12 month high of $70.32. The stock has a 50 day moving average of $67.13 and a 200-day moving average of $66.56.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the business earned $1.06 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that PACCAR Inc. will post $4.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, August 14th. PACCAR’s payout ratio is 26.74%.
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PCAR has been the topic of several research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price target on shares of PACCAR in a report on Thursday, April 20th. Piper Jaffray Companies lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $72.00 to $66.00 in a report on Tuesday, April 18th. Credit Suisse Group set a $68.00 price target on shares of PACCAR and gave the company a “hold” rating in a report on Wednesday, April 12th. Barclays PLC set a $56.00 price target on shares of PACCAR and gave the company a “sell” rating in a report on Wednesday, April 26th. Finally, Zacks Investment Research lowered shares of PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.64% of the company’s stock.
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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