Lourd Capital LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,211 shares of the company’s stock, valued at approximately $287,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Vigilant Capital Management LLC purchased a new stake in shares of PACCAR in the second quarter valued at approximately $105,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in PACCAR by 5,888.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after buying an additional 2,002 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in PACCAR during the second quarter worth $132,000. Point72 Asia Hong Kong Ltd lifted its holdings in PACCAR by 1,202.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,423 shares of the company’s stock worth $160,000 after buying an additional 2,237 shares during the period. Finally, CWM Advisors LLC purchased a new stake in PACCAR during the second quarter worth $203,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.
Shares of PCAR opened at $62.13 on Friday. PACCAR Inc has a 12 month low of $59.82 and a 12 month high of $79.69. The company has a quick ratio of 2.34, a current ratio of 2.52 and a debt-to-equity ratio of 0.69. The firm has a market cap of $23.90 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. PACCAR had a return on equity of 22.68% and a net margin of 9.39%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 6.03 earnings per share for the current year.
PACCAR declared that its board has initiated a stock repurchase plan on Monday, July 9th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 1.80%. PACCAR’s dividend payout ratio is presently 26.29%.
In other news, VP Douglas S. Grandstaff sold 580 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $65.90, for a total transaction of $38,222.00. Following the completion of the sale, the vice president now owns 5,891 shares in the company, valued at approximately $388,216.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David J. Danforth sold 3,304 shares of the company’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $65.57, for a total value of $216,643.28. Following the completion of the transaction, the vice president now directly owns 7,878 shares in the company, valued at $516,560.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,634 shares of company stock valued at $625,510. Company insiders own 2.64% of the company’s stock.
A number of research firms have weighed in on PCAR. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, June 26th. Mizuho began coverage on PACCAR in a report on Friday, June 29th. They set a “neutral” rating and a $70.00 target price for the company. BidaskClub upgraded PACCAR from a “strong sell” rating to a “sell” rating in a report on Thursday, June 28th. ValuEngine upgraded PACCAR from a “strong sell” rating to a “sell” rating in a report on Saturday, July 14th. Finally, Citigroup upped their target price on PACCAR from $65.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $71.64.
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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