PACCAR Inc. $PCAR Shares Bought by Candriam S.C.A.

Candriam S.C.A. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 53.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 58,695 shares of the company’s stock after purchasing an additional 20,478 shares during the period. Candriam S.C.A.’s holdings in PACCAR were worth $6,779,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PCAR. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth about $727,745,000. Wellington Management Group LLP increased its holdings in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the last quarter. UBS Group AG increased its holdings in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after buying an additional 1,940,260 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in PACCAR by 129.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after buying an additional 1,286,056 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of PACCAR by 17,292.6% in the 4th quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after acquiring an additional 1,195,785 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PCAR shares. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.82.

PACCAR Stock Performance

PCAR stock opened at $124.26 on Tuesday. The company has a market capitalization of $65.40 billion, a P/E ratio of 26.44, a PEG ratio of 1.16 and a beta of 0.97. The company has a 50-day simple moving average of $116.49 and a 200 day simple moving average of $119.28. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two 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.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) 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 company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc. will post 5.58 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is 29.79%.

About PACCAR

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.