VIRGINIA RETIREMENT SYSTEMS ET Al Invests $6.83 Million in PACCAR Inc. $PCAR

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 56,870 shares of the company’s stock, valued at approximately $6,831,000.

Several other institutional investors have also bought and sold shares of PCAR. California State Teachers Retirement System raised its position in shares of PACCAR by 11,629.3% during the 2nd quarter. California State Teachers Retirement System now owns 97,627,770 shares of the company’s stock worth $11,727,048,000 after buying an additional 96,795,432 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of PACCAR in the second quarter valued at approximately $265,000. Wedmont Private Capital increased its stake in shares of PACCAR by 5.5% during the second quarter. Wedmont Private Capital now owns 8,464 shares of the company’s stock valued at $1,054,000 after acquiring an additional 439 shares during the period. Saudi Central Bank increased its stake in shares of PACCAR by 90.0% during the second quarter. Saudi Central Bank now owns 36,838 shares of the company’s stock valued at $4,425,000 after acquiring an additional 17,452 shares during the period. Finally, Compass Financial Management LLC bought a new stake in PACCAR during the second quarter worth approximately $28,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 1.8%

Shares of NASDAQ:PCAR opened at $122.50 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The stock has a market capitalization of $64.48 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.43 and a beta of 0.96. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company has a 50 day moving average price of $127.93 and a 200 day moving average price of $121.73.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company posted $1.37 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that PACCAR Inc. will post 5.91 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCAR. Wells Fargo & Company increased their price target on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Truist Financial upped their price objective on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup lifted their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $132.30.

About PACCAR

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.