LS Investment Advisors LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,798 shares of the company’s stock after buying an additional 1,027 shares during the period. LS Investment Advisors LLC’s holdings in PACCAR were worth $846,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massey Quick Simon & CO. LLC purchased a new position in PACCAR during the 4th quarter worth $77,000. Valeo Financial Advisors LLC grew its position in PACCAR by 85.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after purchasing an additional 990 shares during the last quarter. First Mercantile Trust Co. grew its position in PACCAR by 106.5% during the 4th quarter. First Mercantile Trust Co. now owns 2,870 shares of the company’s stock worth $164,000 after purchasing an additional 1,480 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in PACCAR during the 3rd quarter worth $178,000. Finally, Schneider Downs Wealth Management Advisors LP purchased a new position in PACCAR during the 3rd quarter worth $205,000. 60.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PCAR opened at $65.95 on Friday. The stock has a market capitalization of $23.12 billion, a PE ratio of 10.57, a PEG ratio of 0.95 and a beta of 1.32. The company has a current ratio of 1.19, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $72.89.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.08. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, equities analysts predict that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.
PACCAR announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.3% 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 12th will be issued a $0.32 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.94%. PACCAR’s payout ratio is presently 17.95%.
In related news, VP Todd R. Hubbard sold 820 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $65.75, for a total value of $53,915.00. Following the completion of the sale, the vice president now owns 2,446 shares in the company, valued at $160,824.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Douglas S. Grandstaff sold 607 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $59.67, for a total transaction of $36,219.69. Following the completion of the sale, the vice president now owns 5,284 shares of the company’s stock, valued at approximately $315,296.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,260 shares of company stock worth $1,329,259. Insiders own 2.64% of the company’s stock.
Several research analysts have issued reports on the stock. Robert W. Baird raised shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective on the stock in a research report on Thursday. Piper Jaffray Companies raised their price objective on shares of PACCAR to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Credit Suisse Group reissued a “hold” rating and set a $63.00 price objective on shares of PACCAR in a research report on Tuesday, January 22nd. Finally, ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $68.73.
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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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