JLB & Associates Inc. Acquires 12,741 Shares of PACCAR Inc (NASDAQ:PCAR)

JLB & Associates Inc. increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 32.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,328 shares of the company’s stock after buying an additional 12,741 shares during the period. JLB & Associates Inc.’s holdings in PACCAR were worth $5,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Fortitude Advisory Group L.L.C. lifted its position in shares of PACCAR by 0.8% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 31,700 shares of the company’s stock valued at $3,087,000 after acquiring an additional 244 shares during the period. Grove Bank & Trust grew its stake in PACCAR by 61.1% during the first quarter. Grove Bank & Trust now owns 886 shares of the company’s stock worth $86,000 after buying an additional 336 shares in the last quarter. Sagespring Wealth Partners LLC grew its stake in PACCAR by 16.2% during the first quarter. Sagespring Wealth Partners LLC now owns 8,283 shares of the company’s stock worth $807,000 after buying an additional 1,152 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in PACCAR by 1.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 40,953 shares of the company’s stock valued at $3,988,000 after buying an additional 735 shares during the period. Finally, CHB Investment Group LLC raised its position in shares of PACCAR by 1.4% in the 1st quarter. CHB Investment Group LLC now owns 24,681 shares of the company’s stock valued at $2,403,000 after buying an additional 329 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $92.70 on Tuesday. The business has a 50 day moving average of $92.20 and a 200-day moving average of $101.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a market capitalization of $48.66 billion, a P/E ratio of 11.72, a P/E/G ratio of 2.77 and a beta of 0.95.

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 business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.27 earnings per share. On average, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s payout ratio is presently 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCAR shares. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Evercore ISI decreased their price target on PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Finally, UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.