Epoch Investment Partners Inc. Sells 100,570 Shares of PACCAR Inc. $PCAR

Epoch Investment Partners Inc. lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,253,602 shares of the company’s stock after selling 100,570 shares during the period. Epoch Investment Partners Inc.’s holdings in PACCAR were worth $137,282,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brown Advisory Inc. grew its position in PACCAR by 9.4% during the fourth quarter. Brown Advisory Inc. now owns 48,358 shares of the company’s stock valued at $5,296,000 after buying an additional 4,139 shares during the period. Atlas Capital Advisors Inc. bought a new position in PACCAR during the fourth quarter valued at about $65,000. Aptus Capital Advisors LLC grew its position in PACCAR by 7.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 4,472 shares of the company’s stock valued at $490,000 after buying an additional 298 shares during the period. Jacobi Capital Management LLC grew its position in PACCAR by 2.7% during the fourth quarter. Jacobi Capital Management LLC now owns 7,583 shares of the company’s stock valued at $830,000 after buying an additional 201 shares during the period. Finally, FORA Capital LLC grew its position in PACCAR by 295.4% during the fourth quarter. FORA Capital LLC now owns 39,699 shares of the company’s stock valued at $4,347,000 after buying an additional 29,659 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial upped their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.00.

PACCAR Price Performance

NASDAQ PCAR opened at $118.52 on Friday. The company has a market cap of $62.38 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $117.65 and its two-hundred day simple moving average is $117.48.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) 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 the consensus estimate of $6.44 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s payout ratio is currently 29.79%.

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.