Waverly Advisors LLC Buys 19,552 Shares of PACCAR Inc. $PCAR

Key Points

• Waverly Advisors increased its PACCAR position by 36%, purchasing 19,552 additional shares to hold 73,901 shares valued at approximately $8.9 million. Institutional investors and hedge funds collectively own 64.9% of the company.
• PACCAR insiders sold 56,842 shares worth about $7.6 million over the past 90 days, while analysts maintain a consensus “Hold” rating with an average price target of $132.30.
• PACCAR reported quarterly EPS of $1.43 and revenue of $7.55 billion, exceeding analyst expectations. The company also paid a quarterly dividend of $0.35 per share, equivalent to a 1.1% annualized yield.

Waverly Advisors LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 36.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,901 shares of the company's stock after purchasing an additional 19,552 shares during the quarter. Waverly Advisors LLC's holdings in PACCAR were worth $8,877,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCAR. Brighton Jones LLC lifted its holdings in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after acquiring an additional 290 shares during the period. Focus Partners Wealth increased its stake in PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock valued at $1,324,000 after acquiring an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock valued at $22,886,000 after acquiring an additional 5,327 shares during the last quarter. Ieq Capital LLC raised its position in PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock valued at $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in PACCAR during the second quarter worth $81,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,842 shares of company stock worth $7,565,677 in the last 90 days. Corporate insiders own 1.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PCAR. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the stock an "equal weight" rating in a research report on Friday, September 4th. JPMorgan Chase & Co. lifted their target price on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Truist Financial increased their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $132.30.

PACCAR Trading Down 0.5%

NASDAQ PCAR opened at $121.88 on Thursday. The company has a market cap of $64.15 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. 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 business's fifty day moving average is $127.94 and its 200 day moving average is $121.71.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR's dividend payout ratio is currently 29.41%.

PACCAR Company 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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