PACCAR Inc. $PCAR Shares Acquired by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,821 shares of the company’s stock after purchasing an additional 5,275 shares during the quarter. PACCAR accounts for 1.7% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 23rd largest position. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $10,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in PACCAR by 19.8% during the first quarter. Bessemer Group Inc. now owns 18,337 shares of the company’s stock worth $2,119,000 after buying an additional 3,031 shares during the period. Avalon Trust Co lifted its position in shares of PACCAR by 13.7% during the 1st quarter. Avalon Trust Co now owns 995 shares of the company’s stock valued at $115,000 after acquiring an additional 120 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of PACCAR by 2.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,695 shares of the company’s stock worth $3,023,000 after acquiring an additional 580 shares during the period. Independent Financial Group LLC acquired a new stake in shares of PACCAR in the 1st quarter worth approximately $447,000. Finally, Smart Money Group LLC increased its stake in PACCAR by 3.4% in the 1st quarter. Smart Money Group LLC now owns 10,543 shares of the company’s stock valued at $1,218,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $126.20 on Friday. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88. The stock has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The business has a fifty day moving average of $117.32 and a 200-day moving average of $119.60. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, analysts predict that PACCAR Inc. will post 5.65 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.79%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a report on Friday. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, BNP Paribas Exane started coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.18.

PACCAR 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.