Vaughan Nelson Investment Management L.P. Makes New Investment in PACCAR Inc. $PCAR

Vaughan Nelson Investment Management L.P. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 8,275 shares of the company’s stock, valued at approximately $956,000.

Several other large investors have also recently made changes to their positions in PCAR. California Public Employees Retirement System grew its position in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after buying an additional 9,045 shares during the period. Merit Financial Group LLC raised its position in PACCAR by 165.8% in the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after acquiring an additional 15,169 shares during the period. Nordea Investment Management AB raised its position in PACCAR by 12.6% in the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after acquiring an additional 13,668 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after acquiring an additional 9,524 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PCAR shares. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Truist Financial increased their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. decreased their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Price Performance

NASDAQ PCAR opened at $120.12 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The company has a market cap of $63.22 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The firm’s 50-day simple moving average is $117.50 and its two-hundred day simple moving average is $118.20.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company earned $1.46 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. Research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is 29.79%.

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.