FORA Capital LLC Purchases Shares of 6,136 PACCAR Inc. $PCAR

Key Points

• FORA Capital LLC has made a new investment of approximately $597,000 in PACCAR Inc., acquiring 6,136 shares during the first quarter.
• PACCAR reported $1.37 EPS for its latest quarter, exceeding estimates of $1.28, despite a 15.7% decline in revenue compared to last year.
• The company has declared a quarterly dividend of $0.33 per share, to be paid on September 4th, resulting in an annual yield of 1.3%.

FORA Capital LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,136 shares of the company's stock, valued at approximately $597,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of PACCAR by 15.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock valued at $77,404,000 after purchasing an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after buying an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after buying an additional 4,429 shares in the last quarter. Moran Wealth Management LLC grew its position in PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after buying an additional 52,525 shares in the last quarter. Finally, Stack Financial Management Inc purchased a new position in PACCAR during the first quarter worth about $20,585,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Truist Financial cut their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a report on Wednesday, July 23rd. Finally, Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Price Performance

Shares of PCAR traded down $0.70 during midday trading on Monday, reaching $99.98. The stock had a trading volume of 2,225,815 shares, compared to its average volume of 2,130,235. The company's 50-day moving average is $97.80 and its 200 day moving average is $96.51. PACCAR Inc. has a 12-month low of $84.65 and a 12-month 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 company has a market capitalization of $52.50 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94.

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

PACCAR Announces Dividend

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

Insider Activity

In related news, CEO R Preston Feight sold 39,965 shares of the 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 completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on 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 directly owned 468 shares of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

About PACCAR

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.