Interval Partners LP Takes Position in PACCAR Inc. $PCAR

Interval Partners LP acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 290,897 shares of the company’s stock, valued at approximately $31,856,000. Interval Partners LP owned approximately 0.06% of PACCAR as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Investment Management Corp of Ontario raised its stake in shares of PACCAR by 33.7% in the 4th quarter. Investment Management Corp of Ontario now owns 43,114 shares of the company’s stock valued at $4,721,000 after buying an additional 10,879 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of PACCAR by 0.3% in the 4th quarter. Janus Henderson Group PLC now owns 65,433 shares of the company’s stock valued at $7,165,000 after buying an additional 170 shares in the last quarter. Gotham Asset Management LLC raised its stake in shares of PACCAR by 10.0% in the 4th quarter. Gotham Asset Management LLC now owns 34,895 shares of the company’s stock valued at $3,821,000 after buying an additional 3,183 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $289,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of PACCAR by 78.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 7,860 shares of the company’s stock valued at $861,000 after buying an additional 3,460 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PCAR shares. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Truist Financial boosted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Stock Down 3.1%

Shares of NASDAQ:PCAR opened at $117.34 on Thursday. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company’s fifty day moving average is $117.73 and its 200-day moving average is $117.90. The company has a market capitalization of $61.75 billion, a PE ratio of 24.97, a P/E/G ratio of 1.12 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 EPS. Equities research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a dividend of $0.35 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.