Nisa Investment Advisors LLC Buys 9,426 Shares of PACCAR Inc. $PCAR

Nisa Investment Advisors LLC raised its position in PACCAR Inc. (NASDAQ:PCAR) by 4.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 216,500 shares of the company’s stock after purchasing an additional 9,426 shares during the period. Nisa Investment Advisors LLC’s holdings in PACCAR were worth $21,286,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PCAR. Norges Bank acquired a new position in shares of PACCAR in the 2nd quarter valued at about $472,520,000. Pacer Advisors Inc. grew its stake in PACCAR by 2,389.2% during the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after purchasing an additional 1,930,056 shares during the period. JPMorgan Chase & Co. increased its holdings in PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after purchasing an additional 1,165,443 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in PACCAR in the second quarter valued at approximately $83,658,000. Finally, Cullen Capital Management LLC acquired a new position in PACCAR in the second quarter valued at approximately $53,272,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Truist Financial raised their price target on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Citigroup restated a “neutral” rating and issued a $115.00 target price (up from $105.00) on shares of PACCAR in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $111.04.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $118.80 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The company has a market capitalization of $62.39 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 14.70 and a beta of 1.01. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $119.21. The company has a 50-day simple moving average of $106.78 and a 200 day simple moving average of $101.11.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is 25.83%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.