Lansforsakringar Fondforvaltning AB publ Has $18.94 Million Holdings in PACCAR Inc. $PCAR

Lansforsakringar Fondforvaltning AB publ decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 164,004 shares of the company’s stock after selling 5,842 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in PACCAR were worth $18,942,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in PACCAR during the fourth quarter valued at $27,000. Steph & Co. bought a new position in shares of PACCAR in the 1st quarter worth about $29,000. MCF Advisors LLC raised its position in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $30,000. Finally, Camelot Portfolios LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $33,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $120.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm has a 50-day moving average of $116.74 and a 200-day moving average of $118.60. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88. The company has a market cap of $63.22 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.11 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 business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 5.59 EPS 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PCAR shares. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial boosted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average price target of $122.00.

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.