Danica Pension Livsforsikringsaktieselskab Acquires New Position in PACCAR Inc. $PCAR

Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 80,287 shares of the company’s stock, valued at approximately $9,273,000.

Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of PACCAR by 12.6% in the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of PACCAR by 165.8% in the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after purchasing an additional 345,937 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 3.8%

Shares of NASDAQ:PCAR opened at $131.11 on Thursday. The stock’s 50-day simple moving average is $118.20 and its two-hundred day simple moving average is $120.02. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week 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 released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $6.44 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts expect that PACCAR Inc. will post 5.66 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors 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 yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is 29.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCAR shares. BNP Paribas Exane initiated coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley raised their price target on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.