Pictet Asset Management Holding SA Has $27.83 Million Stock Holdings in PACCAR Inc. $PCAR

Pictet Asset Management Holding SA reduced its stake in PACCAR Inc. (NASDAQ:PCAR) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,958 shares of the company’s stock after selling 8,997 shares during the period. Pictet Asset Management Holding SA’s holdings in PACCAR were worth $27,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators boosted its stake in shares of PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after acquiring an additional 81 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after buying an additional 87 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after buying an additional 87 shares in the last quarter. Finally, Jackson Square Capital LLC boosted its position in shares of PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after purchasing an additional 90 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of PCAR stock opened at $121.24 on Thursday. The firm has a market cap of $63.81 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.12 and a beta of 0.97. The business’s 50 day moving average price is $116.59 and its 200-day moving average price is $118.66. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, equities research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

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

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Finally, Truist Financial increased their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research 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 issued a Hold rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $122.00.

About PACCAR

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.