PACCAR Inc (NASDAQ:PCAR) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in PACCAR Inc (NASDAQ:PCAR) by 3.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 343,335 shares of the company’s stock after selling 13,055 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of PACCAR worth $33,431,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in PACCAR in the 4th quarter valued at about $526,922,000. Kovitz Investment Group Partners LLC grew its stake in PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP grew its stake in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in PACCAR in the 4th quarter valued at about $254,651,000. Finally, GAMMA Investing LLC grew its stake in PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company’s stock valued at $85,594,000 after acquiring an additional 870,929 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Down 1.9%

PCAR opened at $91.88 on Monday. The firm has a 50 day moving average price of $92.08 and a 200 day moving average price of $101.17. The company has a market cap of $48.23 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

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

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent research reports. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and reduced their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Citigroup reduced their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reduced 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. Finally, Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.14.

About PACCAR

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.