SVB Wealth LLC Buys 981 Shares of PACCAR Inc (NASDAQ:PCAR)

SVB Wealth LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 31.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,138 shares of the company’s stock after purchasing an additional 981 shares during the quarter. SVB Wealth LLC’s holdings in PACCAR were worth $404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. OFI Invest Asset Management bought a new position in PACCAR in the 3rd quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. ST Germain D J Co. Inc. raised its holdings in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Arlington Trust Co LLC bought a new stake in PACCAR during the third quarter valued at about $30,000. Finally, Achmea Investment Management B.V. bought a new stake in PACCAR during the first quarter valued at about $33,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 2.3 %

PCAR opened at $111.19 on Monday. The firm has a market cap of $58.26 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.67 and a beta of 0.92. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $115.97 and a 200 day moving average of $101.06.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter last year, the business posted $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.97%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling at PACCAR

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last 90 days. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCAR. The Goldman Sachs Group raised their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Finally, Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

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.