PACCAR Inc (PCAR) Stake Increased by National Pension Service

National Pension Service grew its stake in PACCAR Inc (NASDAQ:PCAR) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 438,009 shares of the company’s stock after acquiring an additional 8,086 shares during the quarter. National Pension Service owned 0.12% of PACCAR worth $29,868,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Amussen Hunsaker Associates LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at about $132,000. Valeo Financial Advisors LLC increased its stake in shares of PACCAR by 85.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock valued at $123,000 after acquiring an additional 990 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of PACCAR in the 3rd quarter valued at about $178,000. Boltwood Capital Management bought a new stake in shares of PACCAR in the 3rd quarter valued at about $204,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in shares of PACCAR in the 3rd quarter valued at about $205,000. 60.57% of the stock is owned by institutional investors.

In other news, VP Douglas S. Grandstaff sold 607 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $59.67, for a total value of $36,219.69. Following the completion of the sale, the vice president now owns 5,284 shares of the company’s stock, valued at approximately $315,296.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David J. Danforth sold 651 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the sale, the vice president now directly owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,262 shares of company stock valued at $11,490,110. Insiders own 2.64% of the company’s stock.

A number of analysts have recently commented on the company. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, December 3rd. Loop Capital assumed coverage on PACCAR in a research note on Wednesday, October 17th. They set a “hold” rating and a $68.00 target price for the company. BidaskClub cut PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Morgan Stanley set a $58.00 target price on PACCAR and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Finally, Piper Jaffray Companies raised PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Wednesday, October 24th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $69.02.

NASDAQ:PCAR opened at $56.57 on Friday. PACCAR Inc has a twelve month low of $53.95 and a twelve month high of $79.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.63 and a quick ratio of 2.44. The company has a market cap of $19.83 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.85 and a beta of 1.41.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc will post 6.16 earnings per share for the current fiscal year.

PACCAR announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 4th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be given a dividend of $2.00 per share. The ex-dividend date is Thursday, December 13th. PACCAR’s dividend payout ratio (DPR) is currently 26.29%.

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PACCAR Company Profile

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

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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