Valley National Advisers Inc. Lowers Stock Holdings in PACCAR Inc. $PCAR

Valley National Advisers Inc. lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 97.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 485 shares of the company’s stock after selling 18,956 shares during the period. Valley National Advisers Inc.’s holdings in PACCAR were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. increased its stake in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares in the last quarter. Intellectus Partners LLC boosted its holdings in shares of PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after acquiring an additional 109 shares in the last quarter. Matrix Trust Co increased its stake in shares of PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after acquiring an additional 110 shares during the period. Finally, Focus Partners Advisor Solutions LLC raised its holdings in PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after purchasing an additional 116 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCAR. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday, October 21st. Truist Financial increased their price objective on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.04.

PACCAR Stock Up 0.3%

PCAR opened at $111.79 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The company has a market cap of $58.71 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 15.29 and a beta of 1.01. PACCAR Inc. has a one year low of $84.65 and a one year high of $115.43. The business’s fifty day moving average is $103.92 and its two-hundred day moving average is $99.71.

PACCAR (NASDAQ:PCAR) last released 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 return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the firm earned $1.85 EPS. The company’s quarterly revenue was down 20.7% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is 25.83%.

Insider Activity at PACCAR

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

PACCAR Profile

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.