ProShare Advisors LLC Trims Stock Holdings in PACCAR Inc. $PCAR

ProShare Advisors LLC lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 18.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 657,658 shares of the company’s stock after selling 147,348 shares during the quarter. ProShare Advisors LLC’s holdings in PACCAR were worth $64,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PCAR. Linden Thomas Advisory Services LLC raised its stake in PACCAR by 6.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 11,928 shares of the company’s stock worth $1,173,000 after acquiring an additional 719 shares during the period. SPC Financial Inc. boosted its position in shares of PACCAR by 1.7% in the third quarter. SPC Financial Inc. now owns 14,944 shares of the company’s stock worth $1,469,000 after purchasing an additional 255 shares during the period. Kinsale Capital Group Inc. increased its stake in shares of PACCAR by 9.3% in the third quarter. Kinsale Capital Group Inc. now owns 84,561 shares of the company’s stock worth $8,314,000 after purchasing an additional 7,196 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of PACCAR by 81.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,208 shares of the company’s stock valued at $520,000 after purchasing an additional 2,343 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new position in shares of PACCAR during the 3rd quarter valued at $497,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCAR. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein set a $138.00 target price on PACCAR and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Citigroup boosted their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Insider Transactions at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $123.99, for a total value of $272,778.00. Following the completion of the transaction, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $111,962.97. This represents a 70.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 130,905 shares of company stock worth $16,582,144. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $127.26 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The business has a 50 day simple moving average of $116.59 and a two-hundred day simple moving average of $105.09. The stock has a market capitalization of $66.84 billion, a PE ratio of 28.22, a P/E/G ratio of 1.07 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the company earned $1.66 EPS. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.