Texas Permanent School Fund Corp Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Texas Permanent School Fund Corp lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,151 shares of the company’s stock after purchasing an additional 125 shares during the period. Texas Permanent School Fund Corp’s holdings in PACCAR were worth $13,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SPC Financial Inc. grew its stake in PACCAR by 1.3% in the 1st quarter. SPC Financial Inc. now owns 14,051 shares of the company’s stock worth $1,741,000 after acquiring an additional 176 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of PACCAR by 16.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,164 shares of the company’s stock valued at $144,000 after acquiring an additional 165 shares in the last quarter. Team Hewins LLC lifted its holdings in shares of PACCAR by 2.6% during the 1st quarter. Team Hewins LLC now owns 4,707 shares of the company’s stock valued at $583,000 after acquiring an additional 121 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of PACCAR during the 1st quarter valued at $275,000. Finally, Catalina Capital Group LLC acquired a new position in PACCAR in the 1st quarter worth $226,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. In the last three months, insiders sold 45,040 shares of company stock valued at $4,779,241. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Citigroup began coverage on shares of PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, Truist Financial dropped their target price on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, July 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.92.

PACCAR Stock Performance

NASDAQ PCAR traded up $0.73 on Friday, hitting $103.96. The stock had a trading volume of 58,644 shares, compared to its average volume of 2,498,740. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The stock has a market cap of $54.49 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 1.21 and a beta of 0.92. The company’s 50-day moving average is $105.95 and its two-hundred day moving average is $107.93.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.25 EPS. On average, analysts expect that PACCAR Inc will post 8.37 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.