PACCAR Inc. $PCAR Position Boosted by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its PACCAR stake 4.6% in Q4 to 2,968,288 shares, representing about 0.57% of the company and valued at roughly $325.1 million.
• PACCAR reported quarterly EPS of $1.15 (in line with estimates) and revenue of $6.78 billion (above estimates) but revenue was down 9.8% year‑over‑year, with the stock trading near $113.42 and a market cap around $59.7 billion.
• Dividend increase: PACCAR raised its quarterly dividend to $0.35 (from $0.33), payable June 3 with an ex‑dividend date of May 13, implying a $1.40 annual payout and about a 1.2% yield.

Principal Financial Group Inc. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,968,288 shares of the company's stock after purchasing an additional 130,568 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of PACCAR worth $325,057,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PCAR. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of PACCAR by 40.3% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,942 shares of the company's stock worth $322,000 after acquiring an additional 845 shares during the last quarter. Varma Mutual Pension Insurance Co raised its position in PACCAR by 2.3% during the fourth quarter. Varma Mutual Pension Insurance Co now owns 136,843 shares of the company's stock valued at $14,986,000 after acquiring an additional 3,100 shares in the last quarter. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies bought a new stake in PACCAR in the fourth quarter worth approximately $1,902,000. PKO Investment Management Joint Stock Co bought a new position in shares of PACCAR during the 4th quarter valued at $1,533,000. Finally, Strs Ohio boosted its holdings in PACCAR by 21.4% in the fourth quarter. Strs Ohio now owns 147,487 shares of the company's stock worth $16,151,000 after purchasing an additional 25,997 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company's stock, valued at $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PCAR shares. BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They set a "neutral" rating and a $126.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Citigroup reiterated a "neutral" rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of "Hold" and an average price target of $117.83.

PACCAR Trading Down 0.8%

Shares of PCAR stock opened at $113.42 on Wednesday. The company has a market capitalization of $59.69 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.06 and a beta of 1.02. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12-month low of $88.35 and a 12-month high of $131.88. The firm has a 50-day moving average price of $120.62 and a 200 day moving average price of $114.63.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Research analysts forecast that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. This is an increase from PACCAR's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 13th. PACCAR's dividend payout ratio is presently 28.09%.

About PACCAR

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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