Prudential PLC Acquires 9,686 Shares of PACCAR Inc. $PCAR

Prudential PLC grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 51.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,568 shares of the company’s stock after buying an additional 9,686 shares during the quarter. Prudential PLC’s holdings in PACCAR were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in PACCAR during the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in PACCAR during the fourth quarter worth about $30,000. Wealth Watch Advisors INC bought a new stake in PACCAR during the third quarter worth about $32,000. Camelot Portfolios LLC bought a new stake in PACCAR during the fourth quarter worth about $33,000. Finally, AlphaQuest LLC bought a new stake in PACCAR during the third quarter worth about $38,000. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

PCAR opened at $116.68 on Friday. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company’s 50 day simple moving average is $117.35 and its 200-day simple moving average is $116.78. The stock has a market capitalization of $61.41 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. PACCAR’s revenue was down 9.8% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is currently 29.79%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PCAR shares. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. One research 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.00.

About PACCAR

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.