Louisiana State Employees Retirement System Acquires New Position in PACCAR Inc (NASDAQ:PCAR)

Louisiana State Employees Retirement System purchased a new stake in shares of PACCAR Inc (NASDAQ:PCARFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 73,200 shares of the company’s stock, valued at approximately $7,148,000.

Other hedge funds have also modified their holdings of the company. FORVIS Wealth Advisors LLC increased its holdings in PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after acquiring an additional 109 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of PACCAR by 0.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock valued at $1,231,000 after acquiring an additional 124 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in PACCAR by 1.9% in the third quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after acquiring an additional 124 shares in the last quarter. Penserra Capital Management LLC increased its stake in PACCAR by 8.2% during the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after acquiring an additional 125 shares during the last quarter. Finally, Blue Trust Inc. raised its position in PACCAR by 39.3% during the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock valued at $44,000 after purchasing an additional 127 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the sale, the chief executive officer now owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,496 shares of company stock worth $15,834,812. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6 %

PACCAR stock traded down $0.72 during mid-day trading on Friday, hitting $118.16. The company’s stock had a trading volume of 1,976,024 shares, compared to its average volume of 2,238,831. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $61.92 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The stock’s fifty day moving average is $114.94 and its two-hundred day moving average is $99.90.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the company earned $1.76 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that PACCAR Inc will post 8.16 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.91%. PACCAR’s payout ratio is currently 12.31%.

Analyst Ratings Changes

Several research firms recently weighed in on PCAR. JPMorgan Chase & Co. increased their price target on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. The Goldman Sachs Group raised their price objective on shares of PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Finally, Evercore ISI upped their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

Get Our Latest Stock Analysis on PACCAR

PACCAR Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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