Oslo Pensjonsforsikring AS Buys Shares of 4,537 PACCAR Inc. $PCAR

Oslo Pensjonsforsikring AS bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,537 shares of the company’s stock, valued at approximately $524,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new position in PACCAR during the 4th quarter worth approximately $27,000. MCF Advisors LLC raised its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the period. Steph & Co. acquired a new stake in PACCAR in the first quarter worth $29,000. Elyxium Wealth LLC bought a new position in shares of PACCAR during the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of PACCAR during the third quarter worth $32,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 1.5%

NASDAQ:PCAR opened at $126.25 on Wednesday. The company has a market cap of $66.44 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The business has a 50 day moving average price of $117.82 and a two-hundred day moving average price of $119.87. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

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

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.79%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCAR. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Truist Financial boosted their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Finally, Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $124.18.

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.