PACCAR Inc. $PCAR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 28.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,437 shares of the company’s stock after selling 26,744 shares during the quarter. QRG Capital Management Inc.’s holdings in PACCAR were worth $7,789,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC purchased a new position in shares of PACCAR in the 4th quarter valued at approximately $27,000. MCF Advisors LLC increased its holdings in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. purchased a new stake in shares of PACCAR during the first quarter worth approximately $29,000. Elyxium Wealth LLC purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of PACCAR during the third quarter worth $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $119.50 on Friday. The business’s fifty day moving average price is $116.34 and its 200 day moving average price is $118.72. The firm has a market capitalization of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of analyst reports. BNP Paribas Exane initiated coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday. Citigroup reaffirmed a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and a consensus target price of $122.45.

About PACCAR

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.