Ellevest Inc. Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Ellevest Inc. purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel reports. The firm purchased 2,011 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also made changes to their positions in PCAR. Meeder Asset Management Inc. boosted its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC bought a new stake in PACCAR during the fourth quarter worth approximately $37,000. Kestra Investment Management LLC bought a new stake in PACCAR during the fourth quarter worth approximately $37,000. Atala Financial Inc bought a new stake in PACCAR during the fourth quarter worth approximately $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR during the fourth quarter worth approximately $44,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $90.61 on Monday. The business has a fifty day simple moving average of $94.45 and a 200 day simple moving average of $104.20. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the company earned $2.27 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCAR. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Finally, Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.23.

Insider Activity

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Company Profile

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.