Zevenbergen Capital Investments LLC Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

Zevenbergen Capital Investments LLC decreased its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,242 shares of the company’s stock after selling 353 shares during the period. Zevenbergen Capital Investments LLC’s holdings in PACCAR were worth $2,270,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PCAR. Raymond James & Associates boosted its holdings in shares of PACCAR by 29.1% in the third quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock valued at $6,769,000 after acquiring an additional 17,953 shares during the period. Perigon Wealth Management LLC grew its position in PACCAR by 28.5% during the 3rd quarter. Perigon Wealth Management LLC now owns 3,173 shares of the company’s stock worth $270,000 after purchasing an additional 703 shares during the last quarter. Fifth Third Bancorp increased its stake in PACCAR by 0.6% in the third quarter. Fifth Third Bancorp now owns 44,481 shares of the company’s stock valued at $3,782,000 after purchasing an additional 270 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of PACCAR by 110.4% in the third quarter. Orion Portfolio Solutions LLC now owns 27,274 shares of the company’s stock valued at $2,319,000 after buying an additional 14,312 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of PACCAR by 7.1% in the third quarter. New Mexico Educational Retirement Board now owns 27,179 shares of the company’s stock valued at $2,311,000 after buying an additional 1,800 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 0.1 %

PCAR traded up $0.07 during trading on Friday, hitting $106.00. The company’s stock had a trading volume of 1,727,088 shares, compared to its average volume of 3,019,294. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The stock has a market cap of $55.56 billion, a PE ratio of 11.00, a PEG ratio of 1.64 and a beta of 0.96. The firm’s 50 day moving average price is $115.26 and its 200-day moving average price is $104.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCARGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost 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 dividend payout ratio (DPR) is currently 12.45%.

Analyst Ratings Changes

Several research firms have commented on PCAR. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, TD Cowen increased their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.62.

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PACCAR Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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