JLB & Associates Inc. Makes New $2.19 Million Investment in PACCAR Inc. $PCAR

JLB & Associates Inc. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel.com reports. The fund purchased 18,233 shares of the company’s stock, valued at approximately $2,190,000.

Several other hedge funds have also recently modified their holdings of the stock. Paladin Partners LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $27,000. Ares Financial Consulting LLC purchased a new stake in PACCAR during the 4th quarter worth approximately $27,000. Steph & Co. purchased a new stake in PACCAR during the 1st quarter worth approximately $29,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new position in PACCAR during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PCAR. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Citigroup raised their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $131.70.

PACCAR Stock Performance

PCAR opened at $128.02 on Wednesday. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $67.38 billion, a PE ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. The firm has a 50 day moving average of $125.73 and a two-hundred day moving average of $121.76.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. On average, analysts anticipate that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is currently 29.41%.

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.