Evanson Asset Management LLC Acquires 108 Shares of PACCAR Inc (NASDAQ:PCAR)

Evanson Asset Management LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.5% in the first quarter, Holdings Channel reports. The firm owned 3,227 shares of the company’s stock after purchasing an additional 108 shares during the quarter. Evanson Asset Management LLC’s holdings in PACCAR were worth $400,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc grew its position in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after acquiring an additional 89,359 shares during the period. Pacer Advisors Inc. grew its position in shares of PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after acquiring an additional 16,390 shares during the period. California State Teachers Retirement System grew its position in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after acquiring an additional 9,978 shares during the period. Finally, Nilsine Partners LLC bought a new position in shares of PACCAR in the 4th quarter valued at about $1,337,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial restated a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Citigroup assumed coverage on shares of PACCAR in a research note on Wednesday. They set a “neutral” rating and a $115.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.38.

Insider Activity at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’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 transaction of $226,129.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’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 transaction of $226,129.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 0.4 %

Shares of PACCAR stock opened at $106.48 on Wednesday. The firm has a market capitalization of $55.81 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $108.19 and its 200 day moving average is $107.64. PACCAR Inc has a 1 year low of $78.58 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. Equities research analysts forecast that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s payout ratio is 12.45%.

About PACCAR

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.