Zevenbergen Capital Investments LLC Purchases 810 Shares of PACCAR Inc. $PCAR

Zevenbergen Capital Investments LLC raised its position in PACCAR Inc. (NASDAQ:PCAR) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,645 shares of the company’s stock after acquiring an additional 810 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in PACCAR were worth $2,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. lifted its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR in the first quarter valued at about $29,000. Sunbelt Securities Inc. lifted its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares during the period. Bayforest Capital Ltd lifted its holdings in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after acquiring an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new position in PACCAR in the first quarter valued at about $40,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Truist Financial reduced their price target on PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Citigroup upped their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. upped their price target on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.68.

PACCAR Stock Up 0.7%

Shares of PCAR opened at $102.51 on Friday. The business’s 50 day moving average is $98.48 and its 200 day moving average is $96.09. The company has a market capitalization of $53.83 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 4.09 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its 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 return on equity of 18.25% and a net margin of 9.88%.The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $2.13 EPS. Research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 22.60%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

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.