PACCAR Inc. $PCAR Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 88.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,087 shares of the company’s stock after selling 183,185 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PACCAR were worth $2,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC purchased a new stake in PACCAR in the 4th quarter valued at $27,000. MCF Advisors LLC raised its holdings in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the period. Steph & Co. acquired a new position in shares of PACCAR during the 1st quarter valued at about $29,000. Elyxium Wealth LLC acquired a new position in shares of PACCAR during the 4th quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of PACCAR in the third quarter valued at about $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $126.25 on Wednesday. The company’s 50 day simple moving average is $117.82 and its 200-day simple moving average is $119.87. The company has a market capitalization of $66.44 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the company posted $1.46 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCAR shares. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. Morgan Stanley raised their price target on shares of PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Citigroup reiterated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial increased their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.18.

PACCAR Company Profile

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.