Candriam Luxembourg S.C.A. increased its position in Paccar Inc. (NASDAQ:PCAR) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 25,324 shares of the company’s stock after buying an additional 2,104 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Paccar were worth $1,314,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. acquired a new position in shares of Paccar during the first quarter worth $111,000. Meeder Asset Management Inc. acquired a new position in shares of Paccar during the first quarter worth $224,000. BlueMountain Capital Management LLC increased its position in shares of Paccar by 796.3% in the first quarter. BlueMountain Capital Management LLC now owns 4,338 shares of the company’s stock worth $237,000 after buying an additional 3,854 shares in the last quarter. Advisor Partners LLC acquired a new position in shares of Paccar during the first quarter worth $302,000. Finally, Virginia Retirement System acquired a new position in shares of Paccar during the first quarter worth $313,000. 62.23% of the stock is currently owned by institutional investors.
Paccar Inc. (NASDAQ:PCAR) traded up 1.24% during trading on Wednesday, reaching $59.82. The company’s stock had a trading volume of 1,215,825 shares. Paccar Inc. has a 52-week low of $43.46 and a 52-week high of $60.86. The stock has a market cap of $20.97 billion, a P/E ratio of 31.75 and a beta of 1.51. The firm’s 50-day moving average is $58.45 and its 200-day moving average is $56.08.
Paccar (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The company’s revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Equities research analysts forecast that Paccar Inc. will post $3.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. Paccar’s payout ratio is presently 51.34%.
A number of brokerages have recently weighed in on PCAR. Zacks Investment Research downgraded Paccar from a “hold” rating to a “sell” rating in a report on Monday, July 11th. BMO Capital Markets reiterated a “hold” rating and set a $57.00 price target on shares of Paccar in a report on Friday, July 29th. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a report on Tuesday, June 28th. Barclays PLC set a $47.00 price target on Paccar and gave the company a “sell” rating in a report on Wednesday, July 27th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Paccar in a report on Thursday, June 16th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $56.13.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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