BI Asset Management Fondsmaeglerselskab A S Sells 8,005 Shares of PACCAR Inc. $PCAR

BI Asset Management Fondsmaeglerselskab A S cut its holdings in PACCAR Inc. (NASDAQ:PCAR) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,674 shares of the company’s stock after selling 8,005 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PACCAR were worth $1,464,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PCAR. Ares Financial Consulting LLC bought a new stake in PACCAR during the fourth quarter worth about $27,000. MCF Advisors LLC increased its stake in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of PACCAR during the fourth quarter valued at approximately $30,000. Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the third quarter valued at approximately $32,000. Finally, Camelot Portfolios LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $33,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $117.03 on Thursday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The company has a market capitalization of $61.59 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. The firm has a 50 day moving average of $117.08 and a 200 day moving average of $118.32. 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 (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Analysts Set New Price Targets

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

About PACCAR

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.