Focus Partners Wealth Boosts Stake in PACCAR Inc. $PCAR

Focus Partners Wealth raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 17,292.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,202,700 shares of the company’s stock after purchasing an additional 1,195,785 shares during the quarter. Focus Partners Wealth owned 0.23% of PACCAR worth $131,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Norges Bank purchased a new stake in PACCAR in the fourth quarter valued at $727,745,000. UBS Group AG raised its position in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after purchasing an additional 1,940,260 shares during the period. American Century Companies Inc. raised its position in PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares during the period. Capital Research Global Investors raised its position in PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after purchasing an additional 1,009,134 shares during the period. Finally, California Public Employees Retirement System raised its position in PACCAR by 93.2% in the fourth quarter. California Public Employees Retirement System now owns 2,077,002 shares of the company’s stock valued at $227,452,000 after purchasing an additional 1,001,687 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. BNP Paribas Exane initiated coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $122.00.

PACCAR Trading Up 0.8%

Shares of NASDAQ PCAR opened at $118.52 on Friday. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $117.65 and a 200-day simple moving average of $117.48. The stock has a market capitalization of $62.38 billion, a PE ratio of 25.22, a PEG ratio of 1.10 and a beta of 0.98.

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

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.2%. 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. PACCAR’s 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.