Wealth Enhancement Advisory Services LLC Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 385,602 shares of the company’s stock after acquiring an additional 129 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in PACCAR were worth $38,051,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in PACCAR by 3.1% during the 2nd quarter. Private Advisor Group LLC now owns 21,661 shares of the company’s stock valued at $2,230,000 after purchasing an additional 658 shares during the last quarter. Acadian Asset Management LLC grew its stake in PACCAR by 472.7% during the 2nd quarter. Acadian Asset Management LLC now owns 16,252 shares of the company’s stock valued at $1,671,000 after purchasing an additional 13,414 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the 2nd quarter valued at about $36,000. AGF Management Ltd. grew its stake in PACCAR by 6.3% during the 2nd quarter. AGF Management Ltd. now owns 21,755 shares of the company’s stock valued at $2,239,000 after purchasing an additional 1,280 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in PACCAR by 15.4% during the 2nd quarter. American Century Companies Inc. now owns 552,135 shares of the company’s stock valued at $56,837,000 after purchasing an additional 73,494 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $106.58 on Friday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $55.88 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The business’s 50 day moving average price is $111.26 and its 200 day moving average price is $103.83.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. On average, research analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 14.75%.

Analyst Ratings Changes

Several analysts have weighed in on PCAR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial upped their target price on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Citigroup upped their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $118.50.

About PACCAR

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.