Hsbc Holdings PLC Takes Position in PACCAR Inc. $PCAR

Hsbc Holdings PLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,966,444 shares of the company’s stock, valued at approximately $236,428,000.

A number of other large investors also recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $27,000. Paladin Partners LLC acquired a new stake in PACCAR in the 2nd quarter worth about $27,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. Fiduciary Financial Advisors purchased a new stake in PACCAR during the 2nd quarter worth approximately $28,000. Finally, Compass Financial Management LLC acquired a new position in shares of PACCAR during the second quarter valued at approximately $28,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 0.6%

Shares of PCAR stock opened at $129.22 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company’s 50-day moving average price is $126.83 and its 200-day moving average price is $121.90. The stock has a market cap of $68.02 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.02 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, equities analysts predict that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Citigroup boosted their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.70.

Insider Activity at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

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.