Nykredit A S Purchases Shares of 160,722 PACCAR Inc. $PCAR

Key Points

• Nykredit A/S purchased 160,722 PACCAR shares worth approximately $19.3 million in the second quarter. Institutional investors collectively own 64.9% of PACCAR’s outstanding stock.
• Analysts maintain a generally cautious view, with two Buy ratings and eleven Holds. PACCAR has a consensus rating of Hold and an average price target of $132.30.
• PACCAR exceeded quarterly expectations, reporting $1.43 in earnings per share and $7.55 billion in revenue. However, insiders sold 56,842 shares worth about $7.6 million over the past 90 days, while the company continues to pay a quarterly dividend of $0.35 per share.

Nykredit A S purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 160,722 shares of the company's stock, valued at approximately $19,306,000.

A number of other large investors also recently modified their holdings of the company. Ancora Advisors LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at $16,286,000. Nomura Asset Management Co. Ltd. boosted its position in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company's stock worth $45,281,000 after purchasing an additional 9,524 shares during the period. Geode Capital Management LLC increased its holdings in PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company's stock worth $69,943,000 after purchasing an additional 345,937 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of PACCAR in the first quarter worth about $9,273,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCAR. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Morgan Stanley set a $125.00 target price on shares of PACCAR and gave the company an "equal weight" rating in a research note on Friday. Finally, Citigroup lifted their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $132.30.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares of the company's stock, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares of the company's stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

PACCAR Stock Up 0.2%

Shares of NASDAQ:PCAR opened at $124.70 on Friday. The firm has a market cap of $65.64 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a fifty day simple moving average of $127.78 and a 200 day simple moving average of $121.80. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.37 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR's payout ratio is currently 29.41%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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