Focus Partners Wealth Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Focus Partners Wealth grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,792 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. Focus Partners Wealth’s holdings in PACCAR were worth $1,227,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Atala Financial Inc acquired a new position in shares of PACCAR during the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR in the fourth quarter valued at approximately $44,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.8%

PACCAR stock opened at $96.71 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The stock’s 50 day simple moving average is $93.34 and its two-hundred day simple moving average is $103.86. The firm has a market cap of $50.77 billion, a PE ratio of 12.23, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the company posted $2.27 earnings per share. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. Analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Royal Bank of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup lowered their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.23.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

About PACCAR

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.