North Dakota State Investment Board Purchases New Stake in PACCAR Inc. $PCAR

North Dakota State Investment Board acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,666 shares of the company’s stock, valued at approximately $1,935,000.

Several other hedge funds have also recently bought and sold shares of PCAR. California Public Employees Retirement System lifted its stake in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares during the last quarter. Merit Financial Group LLC lifted its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after purchasing an additional 15,169 shares during the last quarter. National Pension Service lifted its stake in PACCAR by 5.5% during the third quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after purchasing an additional 48,711 shares during the last quarter. AE Wealth Management LLC lifted its stake in PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after purchasing an additional 8,932 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PCAR. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. BNP Paribas Exane began coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. Weiss Ratings upgraded PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Truist Financial upped their target price on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Trading Up 1.2%

PCAR opened at $111.68 on Tuesday. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm has a market capitalization of $58.78 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.02 and a beta of 1.02. The company’s 50 day moving average price is $118.54 and its two-hundred day moving average price is $115.55.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm 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 firm posted $1.46 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

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.