Natixis Purchases 381,451 Shares of PACCAR Inc (NASDAQ:PCAR)

Natixis grew its stake in PACCAR Inc (NASDAQ:PCAR) by 949.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 421,646 shares of the company’s stock after purchasing an additional 381,451 shares during the quarter. Natixis’ holdings in PACCAR were worth $37,632,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. raised its stake in shares of PACCAR by 4.5% in the first quarter. Principal Financial Group Inc. now owns 3,836,871 shares of the company’s stock worth $356,522,000 after purchasing an additional 164,328 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of PACCAR in the first quarter worth $382,000. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 18.0% in the first quarter. JPMorgan Chase & Co. now owns 1,161,978 shares of the company’s stock worth $107,971,000 after purchasing an additional 177,311 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of PACCAR by 34.5% in the first quarter. Quadrant Capital Group LLC now owns 2,059 shares of the company’s stock worth $191,000 after purchasing an additional 528 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of PACCAR by 26.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 5,855 shares of the company’s stock worth $546,000 after purchasing an additional 1,221 shares during the last quarter. 62.58% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ PCAR traded up $1.38 on Thursday, hitting $84.96. 2,862 shares of the stock were exchanged, compared to its average volume of 2,027,227. The firm has a market capitalization of $29.50 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.46 and a beta of 0.97. PACCAR Inc has a 52-week low of $77.96 and a 52-week high of $103.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.57. The stock has a fifty day moving average price of $81.73 and a two-hundred day moving average price of $87.40.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.50 billion. PACCAR had a net margin of 7.90% and a return on equity of 16.52%. The business’s revenue was up 99.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. Sell-side analysts expect that PACCAR Inc will post 5.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Tuesday, November 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.60%. PACCAR’s dividend payout ratio (DPR) is currently 36.36%.

Several research analysts have recently weighed in on PCAR shares. Wolfe Research upgraded PACCAR from a “peer perform” rating to an “outperform” rating and set a $96.00 price target for the company in a research note on Tuesday, October 5th. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research report on Tuesday, July 13th. Morgan Stanley reduced their price objective on PACCAR from $96.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $93.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, October 5th. Finally, Vertical Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $100.42.

About PACCAR

PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.

Further Reading: Capital Gains

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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