Nykredit A S Takes $17.67 Million Position in PACCAR Inc. $PCAR

Key Points

• Nykredit A/S initiated a $17.67 million position in PACCAR during the second quarter by purchasing 147,122 shares. Institutional investors and hedge funds collectively own 64.9% of the company.
• PACCAR exceeded quarterly expectations, reporting $1.43 in earnings per share on $7.55 billion in revenue, versus analyst estimates of $1.36 EPS and $7.05 billion in revenue.
• The company declared a quarterly dividend of $0.35 per share, equivalent to a 1.2% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $133.91.

Nykredit A S bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 147,122 shares of the company's stock, valued at approximately $17,672,000.

Other institutional investors have also added to or reduced their stakes in the company. Amundi raised its holdings in shares of PACCAR by 108.7% in the 2nd quarter. Amundi now owns 3,197,359 shares of the company's stock valued at $384,066,000 after purchasing an additional 1,665,545 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in PACCAR during the second quarter worth about $6,831,000. Ameritas Advisory Services LLC bought a new position in PACCAR during the second quarter worth about $265,000. Wedmont Private Capital increased its position in PACCAR by 5.5% during the second quarter. Wedmont Private Capital now owns 8,464 shares of the company's stock worth $1,054,000 after buying an additional 439 shares during the last quarter. Finally, Saudi Central Bank increased its position in PACCAR by 90.0% during the second quarter. Saudi Central Bank now owns 36,838 shares of the company's stock worth $4,425,000 after buying an additional 17,452 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.1%

Shares of NASDAQ:PCAR opened at $116.06 on Friday. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The business has a 50 day moving average of $127.59 and a 200-day moving average of $121.47. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The stock has a market cap of $61.09 billion, a PE ratio of 24.38, a P/E/G ratio of 1.33 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. As a group, equities research analysts forecast that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR's dividend payout ratio is currently 29.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday, August 18th. Citigroup boosted their target price on PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price target on PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Morgan Stanley set a $125.00 price target on PACCAR and gave the company an "equal weight" rating in a report on Friday, September 4th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $133.91.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 1,970 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares of the company's stock, valued at approximately $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares in the company, valued at $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock worth $7,565,677 over the last quarter. 1.99% of the stock is currently owned by corporate insiders.

PACCAR Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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