PACCAR Inc (NASDAQ:PCAR) Position Raised by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 17.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,955 shares of the company’s stock after acquiring an additional 5,838 shares during the period. UniSuper Management Pty Ltd’s holdings in PACCAR were worth $4,052,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PCAR. Everence Capital Management Inc. bought a new position in PACCAR in the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. boosted its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the period. Sanctuary Advisors LLC grew its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC increased its position in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the period. Finally, Versant Capital Management Inc increased its position in PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock valued at $138,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Insider Transactions at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by insiders.

PACCAR Stock Down 1.3 %

Shares of PACCAR stock opened at $96.91 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $124.39. The company has a market cap of $50.87 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $105.19 and a 200 day moving average price of $106.55.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. As a group, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

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.