Envestnet Portfolio Solutions Inc. Has $1.32 Million Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Envestnet Portfolio Solutions Inc. decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 39.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,531 shares of the company's stock after selling 8,924 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PACCAR were worth $1,318,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. PDS Planning Inc boosted its holdings in shares of PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after acquiring an additional 101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock worth $88,000 after buying an additional 107 shares during the last quarter. Claris Advisors LLC MO boosted its stake in shares of PACCAR by 1.5% during the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company's stock worth $750,000 after buying an additional 108 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after buying an additional 116 shares during the last quarter. Finally, Norden Group LLC boosted its stake in shares of PACCAR by 3.8% during the 4th quarter. Norden Group LLC now owns 3,251 shares of the company's stock worth $338,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

PACCAR stock opened at $94.01 on Wednesday. The firm's 50 day simple moving average is $92.28 and its 200 day simple moving average is $100.05. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $49.35 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 3.39 and a beta of 0.95. 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 earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business's revenue was down 16.0% on a year-over-year basis. During the same period last year, the company posted $2.27 EPS. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup raised their target price on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and cut their target price for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $104.59.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.