PACCAR Inc. $PCAR Stock Holdings Boosted by Erste Asset Management GmbH

Erste Asset Management GmbH lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 35.1% in the 4th quarter, Holdings Channel reports. The fund owned 80,268 shares of the company’s stock after buying an additional 20,869 shares during the period. Erste Asset Management GmbH’s holdings in PACCAR were worth $8,942,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PCAR. Norges Bank bought a new position in shares of PACCAR during the fourth quarter worth about $727,745,000. UBS Group AG grew its position in shares of PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. American Century Companies Inc. grew its position in shares of PACCAR by 235.9% during the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after acquiring an additional 1,784,236 shares during the last quarter. Capital Research Global Investors grew its position in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after acquiring an additional 1,009,134 shares during the last quarter. Finally, Capital World Investors grew its position in shares of PACCAR by 11,269.8% during the third quarter. Capital World Investors now owns 807,712 shares of the company’s stock worth $79,414,000 after acquiring an additional 800,608 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $118.44 on Tuesday. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $62.33 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.08 and a beta of 0.98. The firm has a 50-day moving average of $117.42 and a two-hundred day moving average of $117.09.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the company earned $1.46 EPS. PACCAR’s revenue was down 9.8% on a year-over-year basis. As a group, analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is currently 29.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCAR shares. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Finally, Truist Financial increased their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.00.

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.