Worldquant Millennium Advisors LLC raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,107 shares of the company’s stock after purchasing an additional 29,677 shares during the period. Worldquant Millennium Advisors LLC owned 0.06% of PACCAR worth $14,483,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in PACCAR by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 28,272,678 shares of the company’s stock valued at $2,026,020,000 after purchasing an additional 280,559 shares during the period. BlackRock Inc. lifted its position in PACCAR by 5.7% during the 2nd quarter. BlackRock Inc. now owns 27,314,209 shares of the company’s stock valued at $1,957,337,000 after purchasing an additional 1,462,333 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of PACCAR by 2.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,750,068 shares of the company’s stock valued at $913,670,000 after acquiring an additional 324,895 shares during the last quarter. Northern Trust Corp increased its stake in shares of PACCAR by 3.3% in the 1st quarter. Northern Trust Corp now owns 4,137,807 shares of the company’s stock valued at $281,949,000 after acquiring an additional 132,159 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of PACCAR by 11.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,326,603 shares of the company’s stock valued at $166,724,000 after acquiring an additional 240,512 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.
In related news, VP David J. Danforth sold 848 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the completion of the sale, the vice president now directly owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by corporate insiders.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the company posted $1.59 earnings per share. PACCAR’s revenue for the quarter was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc will post 6.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.87%. PACCAR’s payout ratio is 20.51%.
PCAR has been the subject of a number of recent analyst reports. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Morgan Stanley upped their price target on PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Evercore ISI reaffirmed an “in-line” rating and issued a $76.00 price target (up from $73.00) on shares of PACCAR in a research note on Friday, May 31st. JPMorgan Chase & Co. raised PACCAR from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $66.00 in a research note on Wednesday, July 24th. Finally, Loop Capital cut PACCAR from a “hold” rating to a “sell” rating and lowered their price target for the company from $70.00 to $62.00 in a research note on Tuesday, July 2nd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $68.89.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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