PACCAR Inc. $PCAR Stock Holdings Lifted by FORA Capital LLC

FORA Capital LLC lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 645.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,740 shares of the company’s stock after buying an additional 39,604 shares during the period. FORA Capital LLC’s holdings in PACCAR were worth $4,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Hazlett Burt & Watson Inc. boosted its position in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after acquiring an additional 134 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in PACCAR in the 2nd quarter valued at about $43,000. Finally, Quarry LP acquired a new position in PACCAR during the 1st quarter valued at about $62,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PCAR shares. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $109.12.

PACCAR Stock Down 1.1%

PCAR opened at $111.56 on Friday. The stock’s fifty day moving average is $100.58 and its 200-day moving average is $98.38. PACCAR Inc. has a one year low of $84.65 and a one year high of $115.43. The company has a market capitalization of $58.59 billion, a PE ratio of 21.83, a P/E/G ratio of 15.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. PACCAR’s revenue was down 20.7% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is presently 25.83%.

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.