Flputnam Investment Management Co. Takes Position in PACCAR Inc. $PCAR

Flputnam Investment Management Co. bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, HoldingsChannel reports. The institutional investor bought 45,426 shares of the company’s stock, valued at approximately $5,457,000.

Other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its stake in PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after purchasing an additional 9,524 shares during the period. Merit Financial Group LLC lifted its holdings 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 valued at $2,663,000 after purchasing an additional 15,169 shares in the last quarter. Vanguard Group Inc. grew 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 worth $6,951,172,000 after buying an additional 363,782 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in PACCAR by 118.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after buying an additional 345,937 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $130.79 on Monday. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company’s fifty day simple moving average is $125.32 and its 200 day simple moving average is $121.66. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. On average, research analysts forecast that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PCAR. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Morgan Stanley set a $119.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company raised their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Citigroup boosted their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Truist Financial increased their price objective on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $131.70.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares of the company’s stock, valued at $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. This represents a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.

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.