Nisa Investment Advisors LLC Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Nisa Investment Advisors LLC reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 212,957 shares of the company’s stock after selling 337 shares during the period. Nisa Investment Advisors LLC’s holdings in PACCAR were worth $22,800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH purchased a new position in PACCAR in the third quarter valued at $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after purchasing an additional 576,532 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last 90 days. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 0.2 %

NASDAQ PCAR opened at $109.84 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm’s fifty day moving average price is $110.84 and its 200 day moving average price is $104.19. The company has a market capitalization of $57.59 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.34 EPS. On average, sell-side analysts expect that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 14.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial raised their target price on shares of PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $120.13.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.