LVW Advisors LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 38.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,910 shares of the company’s stock after purchasing an additional 5,796 shares during the period. LVW Advisors LLC’s holdings in PACCAR were worth $1,426,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Garde Capital Inc. grew its holdings in shares of PACCAR by 6.0% in the second quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock worth $823,000 after acquiring an additional 750 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in PACCAR by 1.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,492 shares of the company’s stock valued at $3,067,000 after purchasing an additional 783 shares in the last quarter. State of Alaska Department of Revenue lifted its position in PACCAR by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 47,007 shares of the company’s stock valued at $3,204,000 after purchasing an additional 837 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in PACCAR by 1.7% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 53,474 shares of the company’s stock valued at $3,646,000 after purchasing an additional 900 shares in the last quarter. Finally, Huntington National Bank lifted its position in PACCAR by 39.5% during the third quarter. Huntington National Bank now owns 3,205 shares of the company’s stock valued at $219,000 after purchasing an additional 907 shares in the last quarter. 61.33% of the stock is owned by institutional investors and hedge funds.
PCAR has been the topic of several analyst reports. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, July 16th. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Finally, ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.73.
Shares of PACCAR stock opened at $58.46 on Tuesday. PACCAR Inc has a 52 week low of $53.95 and a 52 week high of $79.69. The stock has a market capitalization of $20.44 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The company has a current ratio of 1.31, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts anticipate that PACCAR Inc will post 6.16 EPS for the current fiscal year.
PACCAR declared that its Board of Directors has approved a stock buyback plan on Monday, July 9th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be given a $0.28 dividend. The ex-dividend date is Friday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. PACCAR’s payout ratio is 26.29%.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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