Securian Asset Management Inc. Sells 11,078 Shares of PACCAR Inc. $PCAR

Securian Asset Management Inc. trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 43.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,281 shares of the company’s stock after selling 11,078 shares during the period. Securian Asset Management Inc.’s holdings in PACCAR were worth $1,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bensler LLC purchased a new stake in PACCAR in the fourth quarter worth $220,000. NewEdge Wealth LLC purchased a new stake in PACCAR in the fourth quarter worth $448,000. Denali Advisors LLC grew its stake in PACCAR by 10.6% in the fourth quarter. Denali Advisors LLC now owns 8,350 shares of the company’s stock worth $914,000 after purchasing an additional 800 shares during the period. Crossmark Global Holdings Inc. grew its stake in PACCAR by 18.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,508 shares of the company’s stock worth $3,231,000 after purchasing an additional 4,619 shares during the period. Finally, Ethic Inc. grew its stake in PACCAR by 5.0% in the fourth quarter. Ethic Inc. now owns 113,613 shares of the company’s stock worth $12,442,000 after purchasing an additional 5,458 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the business’s 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 sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at approximately $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCAR shares. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Truist Financial upped their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Trading Down 1.2%

PACCAR stock opened at $112.96 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $119.75 and its two-hundred day simple moving average is $115.13. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The company has a market capitalization of $59.45 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.02.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR’s dividend payout ratio is presently 28.09%.

PACCAR 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.