Malaga Cove Capital LLC Has $723,000 Stock Position in PACCAR Inc (NASDAQ:PCAR)

Malaga Cove Capital LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 44.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,953 shares of the company’s stock after buying an additional 2,137 shares during the quarter. Malaga Cove Capital LLC’s holdings in PACCAR were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in PACCAR during the 4th quarter worth $526,922,000. Kovitz Investment Group Partners LLC increased its stake in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares during the period. Wellington Management Group LLP lifted its position in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in PACCAR during the 4th quarter valued at approximately $254,651,000. Finally, JPMorgan Chase & Co. grew its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. The trade was a 20.01% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock 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 report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, nine have given 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 an average rating of “Hold” and a consensus target price of $105.23.

PACCAR Trading Up 0.5%

Shares of PCAR opened at $96.26 on Wednesday. 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 stock has a market cap of $50.53 billion, a PE ratio of 12.17, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a 50 day simple moving average of $94.10 and a 200-day simple moving average of $104.08.

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

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

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.