Securian Asset Management Inc. Decreases Holdings in PACCAR Inc. $PCAR

Key Points

• Securian Asset Management cut its PACCAR stake by 43.7% in the fourth quarter, leaving it with 14,281 shares valued at about $1.56 million.
• Analyst sentiment remains cautious: PACCAR’s consensus rating is “Hold,” with a consensus price target of $122, even as some firms adjusted targets and Weiss Ratings upgraded the stock to Buy.
• PACCAR reported mixed operating results last quarter, matching EPS estimates at $1.15 and topping revenue expectations at $6.78 billion, while also increasing its quarterly dividend to $0.35 per share.

Securian Asset Management Inc. trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,281 shares of the company's stock after selling 11,078 shares during the period. Securian Asset Management Inc.'s holdings in PACCAR were worth $1,564,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of PACCAR during the 4th quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the 3rd quarter valued at about $32,000. Camelot Portfolios LLC purchased a new position in shares of PACCAR during the 4th quarter valued at about $33,000. AlphaQuest LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $38,000. Finally, True Wealth Design LLC increased its stake in PACCAR by 61.1% in the 4th quarter. True Wealth Design LLC now owns 364 shares of the company's stock worth $40,000 after purchasing an additional 138 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of a number of analyst reports. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on PACCAR from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings raised PACCAR from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Citigroup reaffirmed a "neutral" rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Truist Financial lifted their price target on PACCAR from $120.00 to $126.00 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $122.00.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.99% of the company's stock.

PACCAR Price Performance

Shares of PCAR stock opened at $112.96 on Tuesday. The firm has a market cap of $59.45 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.06 and a beta of 1.02. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The business's 50 day moving average price is $119.75 and its 200-day moving average price is $115.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts' consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

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

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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