PACCAR Inc (NASDAQ:PCAR) Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its holdings in PACCAR Inc (NASDAQ:PCARGet Rating) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,901 shares of the company’s stock after purchasing an additional 142 shares during the period. Quadrant Capital Group LLC’s holdings in PACCAR were worth $167,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PCAR. Allspring Global Investments Holdings LLC purchased a new position in shares of PACCAR in the fourth quarter worth approximately $5,461,000. CWM LLC purchased a new position in shares of PACCAR in the fourth quarter worth approximately $73,000. Nomura Asset Management Co. Ltd. increased its position in shares of PACCAR by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 86,542 shares of the company’s stock worth $7,638,000 after acquiring an additional 2,945 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of PACCAR by 832.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 47,251 shares of the company’s stock worth $4,170,000 after acquiring an additional 42,182 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of PACCAR by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 25,311 shares of the company’s stock worth $2,234,000 after acquiring an additional 946 shares in the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $91.50, for a total value of $183,000.00. Following the transaction, the vice president now owns 2,119 shares of the company’s stock, valued at $193,888.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCAR. Credit Suisse Group lifted their target price on shares of PACCAR from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Morgan Stanley raised their price target on shares of PACCAR from $75.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. Cowen decreased their price target on shares of PACCAR from $100.00 to $92.00 in a report on Thursday, July 7th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $106.00 to $94.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Finally, Cowen decreased their price target on shares of PACCAR from $100.00 to $92.00 in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $94.69.

PACCAR Price Performance

NASDAQ PCAR opened at $91.13 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $31.68 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.17 and a beta of 0.89. The company has a 50 day moving average price of $85.00 and a two-hundred day moving average price of $86.99. PACCAR Inc has a 12-month low of $77.00 and a 12-month high of $97.56.

PACCAR (NASDAQ:PCARGet Rating) last posted its earnings results on Tuesday, July 26th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.26. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. PACCAR had a net margin of 8.68% and a return on equity of 18.64%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. As a group, equities analysts predict that PACCAR Inc will post 7.73 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 17th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, August 16th. PACCAR’s dividend payout ratio is 21.45%.

PACCAR Company Profile

(Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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