Advisors Capital Management LLC Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Advisors Capital Management LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,305 shares of the company’s stock after buying an additional 716 shares during the quarter. Advisors Capital Management LLC’s holdings in PACCAR were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Everence Capital Management Inc. acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. boosted its position in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. LPL Financial LLC increased its position in shares of PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after buying an additional 12,143 shares in the last quarter. Finally, Insight Wealth Strategies LLC raised its stake in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.8 %

Shares of PACCAR stock opened at $88.82 on Wednesday. The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.77 and a beta of 0.96. The stock has a 50-day simple moving average of $100.20 and a 200-day simple moving average of $106.03. PACCAR Inc has a 52-week low of $85.10 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

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

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of analyst reports. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup lowered their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $112.13.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. 2.02% of the stock is owned by corporate insiders.

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.