Manning & Napier Advisors LLC decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 20.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,325 shares of the company's stock after selling 27,263 shares during the quarter. Manning & Napier Advisors LLC's holdings in PACCAR were worth $10,645,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PCAR. PDS Planning Inc raised its stake in shares of PACCAR by 3.7% in the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after purchasing an additional 101 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in PACCAR by 14.4% during the fourth 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 PACCAR by 1.5% during the fourth 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. raised its position in PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after purchasing an additional 116 shares during the period. Finally, Norden Group LLC raised its position in PACCAR by 3.8% in the fourth quarter. Norden Group LLC now owns 3,251 shares of the company's stock valued at $338,000 after purchasing an additional 118 shares during the period. Institutional investors own 64.90% of the company's stock.
PACCAR Trading Up 0.1%
NASDAQ PCAR traded up $0.13 during trading on Wednesday, hitting $94.14. The company had a trading volume of 2,069,258 shares, compared to its average volume of 2,744,106. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a market cap of $49.42 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 3.48 and a beta of 0.95. The company's fifty day moving average is $92.28 and its 200-day moving average is $100.05.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 EPS 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%. PACCAR's revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.27 EPS. On average, sell-side analysts predict 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 was paid on Wednesday, June 4th. Investors 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 annualized dividend and a dividend yield of 1.40%. PACCAR's payout ratio is currently 20.00%.
Insider Transactions at PACCAR
In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on 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 purchase, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on PCAR shares. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $104.59.
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PACCAR Profile
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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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