Edge Capital Group LLC Takes Position in PACCAR Inc (NASDAQ:PCAR)

Edge Capital Group LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,395 shares of the company’s stock, valued at approximately $1,809,000.

Other large investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $1,984,000. Sanctuary Advisors LLC raised its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. raised its holdings in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.9 %

Shares of PCAR stock opened at $104.46 on Monday. The stock has a market cap of $54.82 billion, a P/E ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $107.50 and its two-hundred day simple moving average is $105.34.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PCAR shares. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

PACCAR 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.