Cynosure Group LLC Makes New Investment in PACCAR Inc. $PCAR

Cynosure Group LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,580 shares of the company’s stock, valued at approximately $502,000.

Several other institutional investors have also added to or reduced their stakes in PCAR. Ares Financial Consulting LLC acquired a new stake in PACCAR in the fourth quarter worth about $27,000. MCF Advisors LLC boosted its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in PACCAR in the fourth quarter worth about $30,000. Wealth Watch Advisors INC acquired a new stake in PACCAR in the third quarter worth about $32,000. Finally, Camelot Portfolios LLC acquired a new stake in PACCAR in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 0.3%

PACCAR stock opened at $121.04 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The company has a market capitalization of $63.70 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.12 and a beta of 0.98. The stock has a 50-day moving average price of $117.75 and a 200 day moving average price of $117.81.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 5.59 EPS 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s dividend payout ratio is presently 29.79%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial raised their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.00.

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.