BNP Paribas Financial Markets Buys 795,050 Shares of PACCAR Inc. $PCAR

BNP Paribas Financial Markets raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 102.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,570,051 shares of the company’s stock after purchasing an additional 795,050 shares during the period. BNP Paribas Financial Markets’ holdings in PACCAR were worth $171,936,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PCAR. Vanguard Group Inc. grew its stake in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares during the period. Geode Capital Management LLC grew its stake in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares during the period. Norges Bank bought a new position in shares of PACCAR during the 4th quarter valued at approximately $727,745,000. Capital Research Global Investors grew its stake in shares of PACCAR by 20.3% during the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after acquiring an additional 1,009,134 shares during the period. Finally, Invesco Ltd. grew its stake in shares of PACCAR by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after acquiring an additional 184,502 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Truist Financial boosted their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.00.

PACCAR Stock Performance

NASDAQ PCAR opened at $110.37 on Friday. The firm has a market cap of $58.09 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $117.34 and a 200-day moving average price of $116.20. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. As a group, equities research analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.