MQS Management LLC Purchases Shares of 8,725 PACCAR Inc (NASDAQ:PCAR)

MQS Management LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,725 shares of the company’s stock, valued at approximately $898,000. PACCAR makes up 0.5% of MQS Management LLC’s portfolio, making the stock its 12th biggest holding.

Several other large investors also recently bought and sold shares of the stock. Jump Financial LLC increased its holdings in shares of PACCAR by 12.9% in the 4th quarter. Jump Financial LLC now owns 3,984 shares of the company’s stock valued at $389,000 after acquiring an additional 456 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of PACCAR by 3.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,734 shares of the company’s stock worth $4,954,000 after buying an additional 1,893 shares during the period. Kingsview Wealth Management LLC increased its position in PACCAR by 3.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after acquiring an additional 100 shares during the period. Gladstone Institutional Advisory LLC raised its stake in PACCAR by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 10,094 shares of the company’s stock valued at $986,000 after acquiring an additional 186 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in PACCAR by 13.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,079,908 shares of the company’s stock valued at $105,453,000 after acquiring an additional 126,720 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.7 %

Shares of NASDAQ:PCAR opened at $96.32 on Thursday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $50.49 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The stock’s fifty day simple moving average is $97.11 and its 200-day simple moving average is $106.34.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. As a group, equities research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI decreased their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Citigroup cut their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.73.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

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.