Crestline Management LP Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Crestline Management LP purchased a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,971 shares of the company's stock, valued at approximately $1,037,000.

Other institutional investors and hedge funds have also recently modified their holdings of 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 bought a new stake in shares of PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR during the fourth quarter valued at approximately $43,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR stock traded down $0.95 during mid-day trading on Friday, reaching $90.61. The stock had a trading volume of 2,238,168 shares, compared to its average volume of 2,764,008. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The firm has a market cap of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business's fifty day moving average is $94.45 and its 200-day moving average is $104.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the prior year, the business posted $2.27 earnings per share. The business's quarterly revenue was down 16.0% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.46%. 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 research firms have recently weighed in on PCAR. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Citigroup reduced their target price 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 investment 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $105.23.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Profile

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.