Nicolet Advisory Services LLC Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Nicolet Advisory Services LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 3.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,502 shares of the company’s stock after buying an additional 125 shares during the period. Nicolet Advisory Services LLC’s holdings in PACCAR were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCAR. Meeder Asset Management Inc. lifted its holdings in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the 4th quarter valued at approximately $43,000. Finally, Atala Financial Inc bought a new position in PACCAR in the 4th quarter worth approximately $43,000. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.54.

PACCAR Price Performance

Shares of PACCAR stock opened at $90.88 on Friday. The firm has a market capitalization of $47.71 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $89.67 and a 12 month high of $123.20. The business’s 50-day moving average price is $103.74 and its 200-day moving average price is $106.57.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last three months. Insiders own 2.02% of the company’s stock.

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.