MUFG Americas Holdings Corp decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,742 shares of the company’s stock after selling 1,005 shares during the period. MUFG Americas Holdings Corp’s holdings in PACCAR were worth $460,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Flinton Capital Management LLC boosted its holdings in shares of PACCAR by 30.6% during the 2nd quarter. Flinton Capital Management LLC now owns 56,976 shares of the company’s stock worth $3,530,000 after buying an additional 13,360 shares during the period. Standard Life Aberdeen plc raised its stake in PACCAR by 17.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 127,423 shares of the company’s stock worth $7,896,000 after purchasing an additional 19,376 shares in the last quarter. Garde Capital Inc. raised its stake in PACCAR by 6.0% in the 2nd quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock worth $823,000 after purchasing an additional 750 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in PACCAR by 142.4% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 134,462 shares of the company’s stock worth $9,237,000 after purchasing an additional 78,992 shares in the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in PACCAR in the 2nd quarter worth about $9,769,000. 60.57% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on PCAR shares. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, October 16th. Loop Capital started coverage on shares of PACCAR in a research note on Wednesday, October 17th. They issued a “hold” rating and a $68.00 price objective for the company. Finally, Argus cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.02.
Shares of NASDAQ:PCAR opened at $56.57 on Friday. The company has a market capitalization of $19.83 billion, a PE ratio of 13.28, a PEG ratio of 0.85 and a beta of 1.41. The company has a quick ratio of 2.44, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. PACCAR Inc has a 12 month low of $53.95 and a 12 month high of $79.69.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. As a group, research analysts expect that PACCAR Inc will post 6.16 EPS for the current year.
The company also recently announced a dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 14th will be given a $2.00 dividend. The ex-dividend date of this dividend is Thursday, December 13th. PACCAR’s payout ratio is presently 26.29%.
PACCAR declared that its board has initiated a share buyback program on Tuesday, December 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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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