Kinsale Capital Group Inc. Has $6.74 Million Position in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Kinsale Capital Group Inc. has increased its stake in PACCAR Inc. by 21.0%, owning 69,239 shares valued at approximately $6.7 million, making it the company's 28th largest position.
• Multiple hedge funds have also increased their holdings in PACCAR, highlighting strong institutional interest with 64.90% of the stock currently owned by such investors.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with a yield of 1.30%, and reported earnings per share of $1.37 for the last quarter, exceeding estimates.

Kinsale Capital Group Inc. boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 21.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,239 shares of the company's stock after acquiring an additional 11,994 shares during the period. PACCAR comprises about 1.7% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 28th biggest holding. Kinsale Capital Group Inc.'s holdings in PACCAR were worth $6,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC raised its holdings in shares of PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after buying an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after buying an additional 2,041,168 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after buying an additional 987,805 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of PACCAR by 10,716.5% during the first quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock valued at $85,594,000 after buying an additional 870,929 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCAR. Evercore ISI cut their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Royal Bank Of Canada lowered their price objective 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. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and raised their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.77.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. The trade was 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 Price Performance

PACCAR stock traded down $0.93 during mid-day trading on Monday, hitting $100.64. The company's stock had a trading volume of 3,003,774 shares, compared to its average volume of 3,330,387. The company has a quick ratio of 1.40, a current ratio of 1.73 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $52.83 billion, a P/E ratio of 17.23, a P/E/G ratio of 4.05 and a beta of 0.94. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The stock's fifty day moving average price is $95.11 and its two-hundred day moving average price is $98.16.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's payout ratio is 22.60%.

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.