BI Asset Management Fondsmaeglerselskab A S Sells 8,694 Shares of PACCAR Inc. $PCAR

BI Asset Management Fondsmaeglerselskab A S trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 29.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,679 shares of the company’s stock after selling 8,694 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PACCAR were worth $2,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System grew its stake in shares of PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after buying an additional 9,045 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after buying an additional 15,169 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after buying an additional 13,668 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of PACCAR by 0.8% during the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after buying an additional 485,678 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after buying an additional 9,524 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane initiated coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Citigroup reiterated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $118.44 on Tuesday. The firm has a market cap of $62.33 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. The firm’s fifty day moving average is $117.42 and its 200-day moving average is $117.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. PACCAR’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Sell-side analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

PACCAR 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.