PACCAR Inc. $PCAR Shares Bought by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.0% during the first quarter, HoldingsChannel reports. The firm owned 93,821 shares of the company’s stock after purchasing an additional 5,275 shares during the quarter. PACCAR accounts for approximately 1.7% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $10,836,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PCAR. Deseret Mutual Benefit Administrators increased its stake in PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after buying an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in PACCAR by 6.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after buying an additional 87 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in PACCAR by 3.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares during the period. Finally, Jackson Square Capital LLC grew its holdings in PACCAR by 3.5% in the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $126.20 on Friday. The stock’s 50-day moving average is $117.32 and its 200-day moving average is $119.60. The company has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the company posted $1.46 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc. will post 5.65 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is 29.79%.

Analyst Ratings Changes

A number of research firms have recently commented on PCAR. Morgan Stanley upped their price objective on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday. BNP Paribas Exane began coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup reaffirmed a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Truist Financial lifted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $124.18.

PACCAR 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.