Wealth Enhancement Advisory Services LLC Has $39.08 Million Holdings in PACCAR Inc. $PCAR

Key Points

• Wealth Enhancement Advisory Services LLC raised its stake in PACCAR Inc. by 3.0%, bringing its total shares to 400,127, valued at approximately $39.08 million.
• PACCAR reported $1.37 earnings per share for the last quarter, exceeding analyst expectations of $1.28, although revenue fell 15.7% year-over-year.
• The company declared a quarterly dividend of $0.33, payable on December 3rd, which results in an annualized yield of 1.3%.

Wealth Enhancement Advisory Services LLC raised its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,127 shares of the company's stock after acquiring an additional 11,570 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of PACCAR worth $39,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Woodline Partners LP acquired a new position in shares of PACCAR during the fourth quarter valued at $3,275,000. Waverly Advisors LLC boosted its holdings in PACCAR by 42.6% in the fourth quarter. Waverly Advisors LLC now owns 3,248 shares of the company's stock valued at $338,000 after acquiring an additional 971 shares during the last quarter. Vise Technologies Inc. acquired a new stake in PACCAR in the fourth quarter worth about $353,000. Finally, Sunbelt Securities Inc. raised its holdings in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 2.1%

Shares of PCAR stock traded down $2.04 during trading hours on Monday, hitting $97.42. 1,286,875 shares of the company were exchanged, compared to its average volume of 2,851,476. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $98.81 and a two-hundred day moving average of $95.91. The company has a market capitalization of $51.16 billion, a PE ratio of 16.68, a PEG ratio of 3.99 and a beta of 0.94.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's payout ratio is presently 22.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial decreased their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Two equities 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.68.

Insider Buying and Selling

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

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.