Public Employees Retirement Association of Colorado decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,091 shares of the company’s stock after selling 1,126 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PACCAR were worth $4,374,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in shares of PACCAR by 2.3% in the third quarter. Great West Life Assurance Co. Can now owns 272,538 shares of the company’s stock valued at $16,002,000 after buying an additional 6,188 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of PACCAR by 2.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,570 shares of the company’s stock valued at $3,266,000 after buying an additional 1,525 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of PACCAR during the third quarter valued at about $3,787,000. DnB Asset Management AS boosted its position in shares of PACCAR by 10.6% in the third quarter. DnB Asset Management AS now owns 35,443 shares of the company’s stock valued at $2,083,000 after buying an additional 3,400 shares during the period. Finally, World Asset Management Inc boosted its position in shares of PACCAR by 2.1% in the third quarter. World Asset Management Inc now owns 36,206 shares of the company’s stock valued at $2,128,000 after buying an additional 738 shares during the period. 60.60% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Inc (NASDAQ:PCAR) traded up 1.30% on Friday, reaching $63.14. 1,126,672 shares of the company traded hands. The stock has a 50 day moving average of $65.95 and a 200-day moving average of $65.43. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 15.61 and a beta of 1.26. PACCAR Inc has a 1-year low of $48.17 and a 1-year high of $70.12.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. PACCAR had a return on equity of 20.21% and a net margin of 3.12%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that PACCAR Inc will post $3.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 19th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from PACCAR’s previous quarterly dividend of $0.24. PACCAR’s dividend payout ratio (DPR) is presently 64.86%.
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Several research analysts have recently weighed in on the stock. Bank of America Corp cut shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $70.00 in a report on Thursday, May 11th. Barclays PLC upped their target price on shares of PACCAR from $57.00 to $59.00 and gave the company an “underweight” rating in a report on Wednesday, April 19th. OTR Global raised shares of PACCAR to a “positive” rating in a report on Tuesday, April 18th. Piper Jaffray Companies cut shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $72.00 to $66.00 in a report on Tuesday, April 18th. Finally, Credit Suisse Group AG set a $68.00 target price on shares of PACCAR and gave the company a “hold” rating in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.07.
In other PACCAR news, VP Alma Lily Ley sold 904 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total value of $60,920.56. Following the sale, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.62% of the stock is currently owned by company insiders.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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