LSV Asset Management Buys 145,600 Shares of PACCAR Inc (PCAR)

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LSV Asset Management boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 615,533 shares of the company’s stock after purchasing an additional 145,600 shares during the period. LSV Asset Management’s holdings in PACCAR were worth $41,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCAR. ING Groep NV grew its holdings in PACCAR by 184.4% during the 3rd quarter. ING Groep NV now owns 41,005 shares of the company’s stock worth $2,796,000 after acquiring an additional 26,587 shares during the period. KCS Wealth Advisory grew its holdings in PACCAR by 7.7% during the 3rd quarter. KCS Wealth Advisory now owns 15,680 shares of the company’s stock worth $1,069,000 after acquiring an additional 1,127 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. grew its holdings in PACCAR by 28.1% during the 3rd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 76,990 shares of the company’s stock worth $5,250,000 after acquiring an additional 16,870 shares during the period. Fulcrum Capital LLC grew its holdings in PACCAR by 5.0% during the 3rd quarter. Fulcrum Capital LLC now owns 21,897 shares of the company’s stock worth $1,493,000 after acquiring an additional 1,038 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in PACCAR by 75.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock worth $121,393,000 after acquiring an additional 763,338 shares during the period. Institutional investors and hedge funds own 61.48% of the company’s stock.

In related news, VP David J. Danforth sold 651 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the transaction, the vice president now owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark C. Pigott sold 194,004 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the transaction, the insider now directly owns 3,080,449 shares in the company, valued at approximately $181,253,619.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,262 shares of company stock worth $11,490,110. 2.64% of the stock is owned by insiders.

PCAR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded PACCAR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Wolfe Research downgraded PACCAR from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. ValuEngine cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Piper Jaffray Companies raised shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research report on Wednesday, October 24th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $68.87.

PCAR stock opened at $60.77 on Friday. The stock has a market cap of $21.30 billion, a PE ratio of 10.53, a P/E/G ratio of 0.91 and a beta of 1.39. The company has a current ratio of 2.63, a quick ratio of 2.44 and a debt-to-equity ratio of 0.72. PACCAR Inc has a 1 year low of $53.95 and a 1 year high of $79.69.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc will post 6.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors 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 yield of 1.84%. PACCAR’s payout ratio is 26.29%.

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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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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