Kinsale Capital Group Inc. Acquires 6,451 Shares of PACCAR Inc (NASDAQ:PCAR)

Kinsale Capital Group Inc. lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,245 shares of the company’s stock after purchasing an additional 6,451 shares during the quarter. PACCAR comprises about 1.6% of Kinsale Capital Group Inc.’s holdings, making the stock its 28th biggest holding. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $5,955,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PCAR. Smartleaf Asset Management LLC increased its position in PACCAR by 12.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,915 shares of the company’s stock worth $406,000 after purchasing an additional 421 shares during the period. Mitchell Capital Management Co. acquired a new stake in PACCAR in the fourth quarter worth about $5,666,000. Capital Wealth Planning LLC increased its position in PACCAR by 10.5% in the fourth quarter. Capital Wealth Planning LLC now owns 56,193 shares of the company’s stock worth $5,845,000 after purchasing an additional 5,333 shares during the period. Metis Global Partners LLC increased its position in PACCAR by 5.2% in the fourth quarter. Metis Global Partners LLC now owns 17,618 shares of the company’s stock worth $1,833,000 after purchasing an additional 867 shares during the period. Finally, SVB Wealth LLC acquired a new stake in PACCAR in the fourth quarter worth about $434,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 1.6 %

NASDAQ PCAR opened at $107.24 on Friday. The stock has a market capitalization of $56.28 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.77 and a beta of 0.92. The stock’s 50 day moving average price is $107.24 and its two-hundred day moving average price is $105.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of analysts recently commented on PCAR shares. JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.77.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR 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.