PACCAR Inc. $PCAR Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 413,489 shares of the company’s stock after purchasing an additional 9,524 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PACCAR were worth $45,281,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at $727,745,000. UBS Group AG grew its holdings in shares of PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after buying an additional 1,940,260 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PACCAR by 235.9% during the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after buying an additional 1,784,236 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after buying an additional 1,009,134 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of PACCAR by 11,269.8% during the third quarter. Capital World Investors now owns 807,712 shares of the company’s stock valued at $79,414,000 after buying an additional 800,608 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research analyst reports. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Truist Financial boosted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Stock Performance

PCAR stock opened at $110.37 on Monday. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. 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 company’s 50-day simple moving average is $117.34 and its 200-day simple moving average is $116.32. The firm has a market cap of $58.09 billion, a P/E ratio of 23.48, a PEG ratio of 1.02 and a beta of 0.98.

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

PACCAR Increases Dividend

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