QV Investors Inc. acquired a new stake in PACCAR Inc (NASDAQ:PCAR) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 26,810 shares of the company’s stock, valued at approximately $1,877,000.
Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its position in PACCAR by 0.9% in the 3rd quarter. Brighton Jones LLC now owns 51,908 shares of the company’s stock worth $3,634,000 after buying an additional 445 shares during the period. Bristlecone Advisors LLC increased its position in PACCAR by 227.2% in the 3rd quarter. Bristlecone Advisors LLC now owns 68,856 shares of the company’s stock worth $4,821,000 after buying an additional 47,814 shares during the period. Sepio Capital LLC increased its position in PACCAR by 13.4% in the 3rd quarter. Sepio Capital LLC now owns 46,018 shares of the company’s stock worth $3,222,000 after buying an additional 5,422 shares during the period. Price Wealth LLC increased its position in PACCAR by 11.7% in the 3rd quarter. Price Wealth LLC now owns 8,575 shares of the company’s stock worth $600,000 after buying an additional 900 shares during the period. Finally, Quadrant Capital Group LLC increased its position in PACCAR by 38.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,267 shares of the company’s stock worth $81,000 after buying an additional 354 shares during the period. 63.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of PCAR traded up $0.62 on Monday, reaching $77.51. 116,099 shares of the stock traded hands, compared to its average volume of 1,941,964. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.38 and a quick ratio of 2.26. PACCAR Inc has a 12 month low of $53.43 and a 12 month high of $77.18. The stock’s 50-day moving average price is $70.06 and its 200-day moving average price is $69.19.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.97 billion. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. PACCAR’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, equities research analysts forecast that PACCAR Inc will post 6.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s dividend payout ratio is presently 20.51%.
Several brokerages have commented on PCAR. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Buckingham Research lifted their price target on PACCAR from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Co boosted their price objective on PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. PACCAR currently has a consensus rating of “Hold” and an average target price of $71.64.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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