Allspring Global Investments Holdings LLC Has $9.26 Million Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Allspring Global Investments Holdings LLC trimmed its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 41.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,165 shares of the company's stock after selling 67,031 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in PACCAR were worth $9,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Proficio Capital Partners LLC bought a new position in PACCAR during the 4th quarter worth approximately $215,000. Jones Financial Companies Lllp boosted its stake in PACCAR by 69.6% during the 4th quarter. Jones Financial Companies Lllp now owns 8,680 shares of the company's stock worth $903,000 after acquiring an additional 3,562 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after buying an additional 6,494 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in PACCAR in the fourth quarter valued at approximately $30,440,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $97.28 on Friday. The stock has a market capitalization of $51.07 billion, a PE ratio of 14.74, a P/E/G ratio of 3.61 and a beta of 0.94. The business has a 50 day simple moving average of $93.45 and a two-hundred day simple moving average of $99.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the business earned $2.27 earnings per share. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were issued a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR's dividend payout ratio is presently 20.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PCAR shares. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada decreased their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Evercore ISI cut their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus price target of $104.59.

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.

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