BI Asset Management Fondsmaeglerselskab A S Has $13.92 Million Stock Position in PACCAR Inc. $PCAR

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in PACCAR Inc. by 62.7%, raising its holdings to 142,997 shares valued at approximately $13.9 million.
• Multiple institutional investors significantly boosted their positions in PACCAR during the first quarter, with 64.90% of the stock now owned by institutional investors and hedge funds.
• PACCAR recently declared a quarterly dividend of $0.33 per share, with a dividend yield of 1.3% and a payout ratio of 22.60%.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,997 shares of the company's stock after buying an additional 55,104 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in PACCAR were worth $13,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the period. Alpine Bank Wealth Management acquired a new stake in PACCAR during the first quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares during the last quarter. Bayforest Capital Ltd boosted its position in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in PACCAR during the first quarter valued at $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR traded up $3.96 on Friday, hitting $101.50. 3,345,420 shares of the stock traded hands, compared to its average volume of 2,405,367. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $53.30 billion, a PE ratio of 17.38, a P/E/G ratio of 4.07 and a beta of 0.91. The business has a fifty day moving average price of $96.87 and a two-hundred day moving average price of $96.75.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is currently 22.60%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Truist Financial dropped their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $107.68.

Insider Activity

In related news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

PACCAR Company 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.