Kinsale Capital Group Inc. Grows Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Kinsale Capital Group Inc. increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,239 shares of the company’s stock after purchasing an additional 11,994 shares during the quarter. PACCAR comprises about 1.7% of Kinsale Capital Group Inc.’s holdings, making the stock its 28th largest position. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $6,742,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares in the last quarter. Alpine Bank Wealth Management bought a new position in PACCAR in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its position in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock valued at $43,000 after buying an additional 174 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada decreased their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Evercore ISI cut their price objective on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.45.

PACCAR Trading Up 0.1%

Shares of PACCAR stock opened at $101.57 on Monday. The company has a market capitalization of $53.32 billion, a P/E ratio of 17.39, a PEG ratio of 4.05 and a beta of 0.94. The company’s fifty day moving average is $95.03 and its two-hundred day moving average is $98.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.40 and a current ratio of 1.73. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.30%. PACCAR’s dividend payout ratio is currently 22.60%.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director directly owned 13,015 shares of the company’s stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by 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.