Prospera Financial Services Inc Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

Prospera Financial Services Inc trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 31.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,752 shares of the company’s stock after selling 1,714 shares during the period. Prospera Financial Services Inc’s holdings in PACCAR were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in PACCAR by 43.5% in the first quarter. Advisors Asset Management Inc. now owns 16,913 shares of the company’s stock valued at $2,095,000 after purchasing an additional 5,129 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of PACCAR in the 1st quarter valued at $534,000. LRI Investments LLC purchased a new position in shares of PACCAR in the 1st quarter valued at $65,000. BOKF NA raised its stake in PACCAR by 4.8% during the 1st quarter. BOKF NA now owns 16,840 shares of the company’s stock worth $2,073,000 after acquiring an additional 772 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in PACCAR by 0.4% in the first quarter. Janus Henderson Group PLC now owns 68,188 shares of the company’s stock valued at $8,445,000 after acquiring an additional 301 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.6 %

Shares of NASDAQ:PCAR opened at $114.75 on Monday. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm’s 50-day simple moving average is $105.77 and its 200-day simple moving average is $102.99. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, equities research analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Analyst Ratings Changes

A number of research firms have recently commented on PCAR. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, Truist Financial increased their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $117.64.

Insiders Place Their Bets

In related news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

PACCAR Profile

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.