KLP Kapitalforvaltning AS Invests $32.86 Million in PACCAR Inc (NASDAQ:PCAR)

KLP Kapitalforvaltning AS bought a new position in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 308,336 shares of the company’s stock, valued at approximately $32,859,000. KLP Kapitalforvaltning AS owned 0.06% of PACCAR as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PCAR. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management acquired a new stake in PACCAR during the fourth quarter valued at $43,000. Atala Financial Inc purchased a new position in PACCAR in the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $97.11 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $50.96 billion, a PE ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.91. The stock has a 50-day simple moving average of $106.29 and a 200 day simple moving average of $106.48.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is currently 16.69%.

Analyst Ratings Changes

A number of brokerages have commented on PCAR. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

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.