Burney Co. decreased its position in Paccar (NASDAQ:PCAR) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,541 shares of the company’s stock after selling 800 shares during the quarter. Burney Co.’s holdings in Paccar were worth $367,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Paccar by 8.9% in the fourth quarter. BlackRock Inc. now owns 29,378,299 shares of the company’s stock valued at $2,088,211,000 after buying an additional 2,401,617 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Paccar by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 4,104,838 shares of the company’s stock valued at $291,223,000 after buying an additional 266,591 shares during the period. Boston Partners lifted its holdings in shares of Paccar by 26.7% in the first quarter. Boston Partners now owns 3,417,116 shares of the company’s stock valued at $226,111,000 after buying an additional 721,100 shares during the period. Deutsche Bank AG lifted its holdings in shares of Paccar by 14.2% in the fourth quarter. Deutsche Bank AG now owns 3,251,534 shares of the company’s stock valued at $231,113,000 after buying an additional 405,111 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Paccar by 3.2% in the first quarter. Victory Capital Management Inc. now owns 3,139,261 shares of the company’s stock valued at $207,725,000 after buying an additional 97,578 shares during the period. Institutional investors and hedge funds own 64.87% of the company’s stock.
Several brokerages have recently weighed in on PCAR. Robert W. Baird cut their price objective on Paccar from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, April 25th. BidaskClub lowered Paccar from a “hold” rating to a “sell” rating in a report on Monday. BMO Capital Markets cut their price objective on Paccar from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, April 25th. They noted that the move was a valuation call. Bank of America lowered Paccar from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Wednesday, April 25th. Finally, Credit Suisse Group cut their price objective on Paccar from $74.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, April 25th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. Paccar has an average rating of “Hold” and an average price target of $74.47.
Shares of Paccar opened at $64.29 on Friday, according to Marketbeat.com. Paccar has a 12 month low of $63.55 and a 12 month high of $64.22. The firm has a market cap of $22.35 billion, a PE ratio of 15.09, a P/E/G ratio of 1.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.45 and a quick ratio of 2.29.
Paccar (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 24th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.31 by $0.14. Paccar had a return on equity of 21.26% and a net margin of 8.99%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Paccar’s revenue was up 35.2% compared to the same quarter last year. research analysts anticipate that Paccar will post 5.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Tuesday, May 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.74%. This is a positive change from Paccar’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 14th. Paccar’s payout ratio is presently 26.29%.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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