Magnetar Financial LLC Acquires 6,293 Shares of PACCAR Inc. $PCAR

Magnetar Financial LLC boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 124.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,359 shares of the company’s stock after acquiring an additional 6,293 shares during the period. Magnetar Financial LLC’s holdings in PACCAR were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. grew its holdings in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new position in PACCAR during the 1st quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd grew its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in PACCAR during the 1st quarter worth about $40,000. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

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

PACCAR Stock Performance

Shares of PACCAR stock opened at $99.98 on Friday. The firm has a market capitalization of $52.50 billion, a P/E ratio of 17.12, a PEG ratio of 4.01 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $97.80 and a 200 day moving average price of $96.57. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

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

PACCAR Dividend Announcement

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

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada decreased their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial decreased their price target on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price 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.