PACCAR Inc. $PCAR Stock: Curated Wealth Partners LLC Trims Stake

Key Points

• Curated Wealth Partners LLC reduced its PACCAR stake by 84.4% in the third quarter, selling 11,626 shares and retaining 2,150 shares valued at approximately $236,000. Institutional investors and hedge funds collectively own 64.9% of PCAR.
• PACCAR reported quarterly earnings of $1.43 per share, exceeding estimates of $1.36, while revenue reached $7.55 billion versus the $7.05 billion consensus estimate. Analysts maintain a consensus “Hold” rating with an average price target of $131.50.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 1.3% yield. Recent insider activity was negative, with executives selling a combined 56,842 shares worth about $7.6 million.

Curated Wealth Partners LLC trimmed its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 84.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,150 shares of the company's stock after selling 11,626 shares during the quarter. Curated Wealth Partners LLC's holdings in PACCAR were worth $236,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of PACCAR in the 2nd quarter worth about $4,927,720,000. Bank of America Corp DE acquired a new stake in shares of PACCAR during the second quarter worth $1,130,496,000. Bank of New York Mellon Corp bought a new stake in shares of PACCAR during the 2nd quarter valued at about $453,107,000. Legal & General Group Plc acquired a new stake in PACCAR during the second quarter worth about $335,776,000. Finally, Deutsche Bank AG acquired a new stake in PACCAR during the second quarter worth about $239,460,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $110.82 on Monday. PACCAR Inc. has a 1 year low of $93.19 and a 1 year high of $139.24. The company has a market cap of $58.33 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The firm has a fifty day moving average of $119.55 and a 200-day moving average of $120.52.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The business 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 company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. As a group, equities analysts anticipate 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. Investors of record on Wednesday, November 11th will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 annualized dividend and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is currently 29.41%.

Analyst Ratings Changes

PCAR has been the topic of a number of recent research reports. BNP Paribas Exane cut their target price on shares of PACCAR from $136.00 to $107.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Wells Fargo & Company set a $122.00 target price on PACCAR and gave the company an "equal weight" rating in a report on Thursday, October 8th. Jefferies Financial Group increased their price target on PACCAR from $120.00 to $140.00 and gave the stock a "hold" rating in a research report on Wednesday, July 29th. Evercore increased their price target on PACCAR from $139.00 to $162.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Finally, Citigroup cut their price target on PACCAR from $140.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price of $131.50.

Insider Activity

In other PACCAR 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 transaction of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares of the company's stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Feight sold 50,975 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares of the company's stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by company insiders.

About PACCAR

PACCAR Inc NASDAQ: PCAR is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company's operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.

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