PACCAR Inc. $PCAR Shares Bought by FORA Capital LLC

FORA Capital LLC grew its position in PACCAR Inc. (NASDAQ:PCAR) by 645.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,740 shares of the company’s stock after purchasing an additional 39,604 shares during the period. FORA Capital LLC’s holdings in PACCAR were worth $4,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Evergreen Capital Management LLC grew its stake in PACCAR by 15.3% during the second quarter. Evergreen Capital Management LLC now owns 776,753 shares of the company’s stock worth $73,838,000 after buying an additional 103,299 shares during the period. MUFG Securities EMEA plc purchased a new stake in PACCAR during the 2nd quarter worth $147,000. Captrust Financial Advisors increased its holdings in PACCAR by 2.4% in the 2nd quarter. Captrust Financial Advisors now owns 57,743 shares of the company’s stock valued at $5,489,000 after purchasing an additional 1,332 shares in the last quarter. Zuckerman Investment Group LLC raised its position in PACCAR by 100.0% in the second quarter. Zuckerman Investment Group LLC now owns 6,000 shares of the company’s stock valued at $570,000 after purchasing an additional 3,000 shares during the period. Finally, Vident Advisory LLC lifted its stake in shares of PACCAR by 23.2% during the second quarter. Vident Advisory LLC now owns 15,859 shares of the company’s stock worth $1,508,000 after purchasing an additional 2,984 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

PACCAR stock opened at $111.56 on Friday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $115.43. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The stock has a market cap of $58.59 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 15.26 and a beta of 1.01. The stock has a 50 day moving average of $100.58 and a 200-day moving average of $98.38.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the company earned $1.85 earnings per share. The company’s revenue was down 20.7% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Citigroup reiterated a “neutral” rating and set a $115.00 price objective (up previously from $105.00) on shares of PACCAR in a research note on Thursday. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Morgan Stanley set a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.12.

PACCAR Company Profile

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.