Clarius Group LLC Has $230.64 Million Stake in PACCAR Inc. $PCAR

Clarius Group LLC lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,426,220 shares of the company’s stock after acquiring an additional 96,841 shares during the quarter. PACCAR accounts for about 13.4% of Clarius Group LLC’s investment portfolio, making the stock its largest holding. Clarius Group LLC’s holdings in PACCAR were worth $230,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the first quarter worth approximately $29,000. Bayforest Capital Ltd boosted its holdings in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of PACCAR in the first quarter worth approximately $40,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 1.0%

Shares of PCAR opened at $98.09 on Friday. The company’s fifty day moving average is $99.03 and its 200 day moving average is $95.62. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock has a market capitalization of $51.51 billion, a PE ratio of 16.80, a P/E/G ratio of 3.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the previous year, the business posted $2.13 earnings per share. PACCAR’s quarterly revenue was down 15.7% on a year-over-year basis. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s payout ratio is 22.60%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCAR. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Truist Financial lowered their price target on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a report on Saturday, September 27th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $107.68.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.