Pinebridge Investments L.P. Has $27.28 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Pinebridge Investments L.P. trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,243 shares of the company's stock after selling 64,136 shares during the period. Pinebridge Investments L.P. owned about 0.05% of PACCAR worth $27,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR during the 4th quarter valued at $1,984,000. Cullen Frost Bankers Inc. increased its stake in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after buying an additional 6,494 shares during the period. LPL Financial LLC raised its position in shares of PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after acquiring an additional 12,143 shares in the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after purchasing an additional 6,936 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock valued at $138,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company's stock.

PACCAR Price Performance

NASDAQ PCAR traded up $0.04 on Monday, reaching $91.93. The company's stock had a trading volume of 939,919 shares, compared to its average volume of 2,743,738. The firm's 50 day moving average is $97.55 and its two-hundred day moving average is $105.37. PACCAR Inc has a twelve month low of $85.05 and a twelve month high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $48.26 billion, a PE ratio of 11.61, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCAR. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Evercore ISI dropped their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $108.59.

PACCAR 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.