Lbp Am Sa Buys New Stake in PACCAR Inc. $PCAR

Lbp Am Sa bought a new position in PACCAR Inc. (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 93,133 shares of the company’s stock, valued at approximately $10,199,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in PACCAR by 0.8% during the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares during the period. Capital Research Global Investors increased its stake in shares of PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares during the period. Invesco Ltd. lifted its position in shares of PACCAR by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after purchasing an additional 184,502 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of PACCAR by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after purchasing an additional 22,941 shares during the last quarter. Finally, UBS Group AG boosted its stake in PACCAR by 28.7% during the 3rd quarter. UBS Group AG now owns 2,608,601 shares of the company’s stock valued at $256,478,000 after purchasing an additional 581,986 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Citigroup raised their target price on PACCAR from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One investment 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.com, the company has a consensus rating of “Hold” and an average price target of $117.42.

Insiders Place Their Bets

In related news, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the transaction, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction 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 in the company, valued at $768,125.82. This represents a 66.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 in the last ninety days. 1.99% of the stock is currently owned by insiders.

PACCAR Trading Up 0.7%

Shares of PCAR opened at $124.37 on Friday. The stock’s 50-day moving average price is $121.37 and its 200 day moving average price is $112.33. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $65.45 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.03 and a beta of 1.06. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

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

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.