Steward Partners Investment Advisory LLC Reduces Holdings in PACCAR Inc. $PCAR

Steward Partners Investment Advisory LLC decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 22.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,331 shares of the company’s stock after selling 9,123 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in PACCAR were worth $3,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the first quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of PACCAR during the first quarter worth about $40,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $98.18 on Thursday. The firm has a 50 day moving average of $96.60 and a 200-day moving average of $96.95. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company has a market cap of $51.55 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.99 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an “outperform” rating in a report on Tuesday. Royal Bank Of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Vertical Research raised PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.68.

PACCAR 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.