Cullen Capital Management LLC Has $57.50 Million Position in PACCAR Inc. $PCAR

Cullen Capital Management LLC lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525,036 shares of the company’s stock after selling 33,387 shares during the quarter. Cullen Capital Management LLC’s holdings in PACCAR were worth $57,497,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Ares Financial Consulting LLC acquired a new stake in PACCAR in the 4th quarter valued at approximately $27,000. MCF Advisors LLC raised its position in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in PACCAR in the 4th quarter valued at approximately $30,000. Wealth Watch Advisors INC acquired a new stake in PACCAR in the 3rd quarter valued at approximately $32,000. Finally, Camelot Portfolios LLC acquired a new stake in PACCAR in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.8%

NASDAQ:PCAR opened at $118.52 on Friday. The firm has a market capitalization of $62.38 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. The stock’s 50 day moving average price is $117.65 and its two-hundred day moving average price is $117.48. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted 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 return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is presently 29.79%.

Analysts Set New Price Targets

Several research firms have weighed in on PCAR. JPMorgan Chase & Co. lowered their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Truist Financial boosted their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One investment 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.00.

PACCAR 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.