Livforsakringsbolaget Skandia Omsesidigt Has $9.22 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 94,697 shares of the company’s stock after selling 700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PACCAR were worth $9,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR in the 4th quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the 4th quarter worth about $37,000. Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after purchasing an additional 350 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in PACCAR in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director now directly owns 13,015 shares of the company’s stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Up 1.0%

Shares of PACCAR stock opened at $94.43 on Tuesday. The firm has a market capitalization of $49.57 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $91.75 and its 200 day moving average is $101.80. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. Equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Royal Bank of Canada decreased their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.14.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.