BNP Paribas Financial Markets Acquires 30,037 Shares of PACCAR Inc. $PCAR

BNP Paribas Financial Markets increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 4.0% in the third quarter, Holdings Channel.com reports. The firm owned 775,001 shares of the company’s stock after acquiring an additional 30,037 shares during the period. BNP Paribas Financial Markets’ holdings in PACCAR were worth $76,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. Brighton Jones LLC boosted its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after buying an additional 290 shares during the period. Focus Partners Wealth grew its stake in shares of PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after buying an additional 1,812 shares during the last quarter. Savant Capital LLC increased its holdings in shares of PACCAR by 7.4% in the second quarter. Savant Capital LLC now owns 13,743 shares of the company’s stock worth $1,306,000 after buying an additional 945 shares during the period. Penserra Capital Management LLC lifted its stake in shares of PACCAR by 12.2% in the 2nd quarter. Penserra Capital Management LLC now owns 2,851 shares of the company’s stock valued at $270,000 after acquiring an additional 309 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in PACCAR during the 2nd quarter valued at about $287,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 over the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $116.82 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88. The firm has a 50-day moving average of $122.71 and a 200 day moving average of $109.08. The company has a market cap of $61.43 billion, a P/E ratio of 25.90, a PEG ratio of 0.99 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Citigroup increased their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $116.50.

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.