Lighthouse Investment Partners LLC Acquires 47,475 Shares of PACCAR Inc. $PCAR

Lighthouse Investment Partners LLC lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 486.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,237 shares of the company’s stock after acquiring an additional 47,475 shares during the period. Lighthouse Investment Partners LLC’s holdings in PACCAR were worth $5,628,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its stake in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Wealth Watch Advisors INC purchased a new stake in PACCAR during the 3rd quarter valued at approximately $32,000. AlphaQuest LLC bought a new stake in shares of PACCAR during the third quarter valued at approximately $38,000. Westside Investment Management Inc. lifted its holdings in shares of PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after buying an additional 216 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after buying an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president directly owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 over the last ninety days. 2.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Performance

Shares of PACCAR stock opened at $115.63 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $122.84 and its two-hundred day moving average is $109.40. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88. The company has a market capitalization of $60.81 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $1.66 earnings per share. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.