Assetmark Inc. Increases Holdings in PACCAR Inc. $PCAR

Assetmark Inc. raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 212,450 shares of the company’s stock after buying an additional 5,874 shares during the period. Assetmark Inc.’s holdings in PACCAR were worth $23,265,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PCAR. Private Wealth Management Group LLC raised its holdings 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 position in shares of PACCAR during the third quarter valued at about $32,000. AlphaQuest LLC purchased a new position in shares of PACCAR during the third quarter valued at about $38,000. True Wealth Design LLC grew its position in shares of PACCAR by 61.1% during the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Down 1.6%

PCAR stock opened at $123.48 on Thursday. The company’s 50-day simple moving average is $121.43 and its 200-day simple moving average is $112.25. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The firm has a market cap of $64.98 billion, a P/E ratio of 27.38, a PEG ratio of 1.05 and a beta of 1.06.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. BNP Paribas Exane began coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $117.42.

Insider Buying and Selling

In other news, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the completion of the sale, the executive vice president owned 34,656 shares in the company, valued at $4,433,195.52. This trade represents a 69.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the sale, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,105 shares of company stock worth $16,869,046 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

PACCAR Company 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.