Erste Asset Management GmbH Acquires 44,699 Shares of PACCAR Inc. $PCAR

Key Points

• Erste Asset Management GmbH increased its stake in PACCAR Inc. by 93.4%, owning 92,542 shares worth approximately $8.976 million after acquiring 44,699 shares in the last quarter.
• PACCAR recently reported earnings of $1.37 per share for the latest quarter, exceeding the consensus estimate by $0.09, though revenue declined 15.7% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, with a payout ratio of 22.60%, indicating a yield of 1.3% for shareholders.

Erste Asset Management GmbH boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 93.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,542 shares of the company's stock after acquiring an additional 44,699 shares during the period. Erste Asset Management GmbH's holdings in PACCAR were worth $8,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in PACCAR by 3.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 12,493 shares of the company's stock valued at $1,216,000 after acquiring an additional 366 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its stake in PACCAR by 7.2% in the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 40,690 shares of the company's stock valued at $3,962,000 after acquiring an additional 2,750 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in PACCAR by 62.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 142,997 shares of the company's stock valued at $13,924,000 after acquiring an additional 55,104 shares during the period. Quantbot Technologies LP raised its stake in PACCAR by 148.5% in the 1st quarter. Quantbot Technologies LP now owns 30,847 shares of the company's stock valued at $3,004,000 after acquiring an additional 18,435 shares during the period. Finally, Wellington Management Group LLP raised its stake in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PACCAR stock traded down $1.0010 during trading on Monday, reaching $100.4990. The company's stock had a trading volume of 1,471,220 shares, compared to its average volume of 2,866,270. The business's 50-day moving average price is $96.87 and its 200-day moving average price is $96.68. The firm has a market cap of $52.77 billion, a PE ratio of 17.21, a P/E/G ratio of 4.07 and a beta of 0.91. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 earnings per share. Equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PCAR shares. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. Citigroup increased their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Company Profile

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.