Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases Shares of 91,100 PACCAR Inc. $PCAR

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) during the first quarter, Holdings Channel reports. The institutional investor acquired 91,100 shares of the company’s stock, valued at approximately $10,522,000.

Several other institutional investors have also recently modified their holdings of PCAR. Ares Financial Consulting LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Steph & Co. purchased a new position in PACCAR during the 1st quarter worth approximately $29,000. Elyxium Wealth LLC purchased a new position in PACCAR during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR during the 3rd quarter valued at approximately $32,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.45.

PACCAR Stock Performance

PACCAR stock opened at $119.50 on Friday. The firm has a market cap of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock’s 50 day simple moving average is $116.34 and its two-hundred day simple moving average is $118.72. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 29.79%.

About PACCAR

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.