Vaughan Nelson Investment Management L.P. Invests $956,000 in PACCAR Inc. $PCAR

Vaughan Nelson Investment Management L.P. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the first quarter, according to its most recent filing with the SEC. The firm purchased 8,275 shares of the company’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. California Public Employees Retirement System boosted its stake in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after acquiring an additional 9,045 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares during the period. Nordea Investment Management AB boosted its position in shares of PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares during the period. Finally, Vanguard Group Inc. increased its position in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $120.12 on Tuesday. 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 market cap of $63.22 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The stock’s fifty day simple moving average is $117.50 and its two-hundred day simple moving average is $118.20. PACCAR Inc. has a 1-year low of $90.05 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting 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 quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal 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 given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis 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 currently 29.79%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. 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. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Citigroup reaffirmed a “neutral” rating and issued 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.00.

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.