PACCAR Inc (NASDAQ:PCAR) Position Increased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,245 shares of the company’s stock after buying an additional 6,451 shares during the quarter. PACCAR accounts for 1.6% of Kinsale Capital Group Inc.’s portfolio, making the stock its 28th largest position. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $5,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in PACCAR during the fourth quarter valued at about $1,984,000. Sanctuary Advisors LLC lifted its position in shares of PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. lifted its position in shares of PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 1.6 %

PCAR opened at $107.24 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm’s fifty day moving average price is $107.24 and its two-hundred day moving average price is $105.73. The company has a market capitalization of $56.28 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PCAR. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup cut 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Company 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.