Allstate Corp Purchases 19,259 Shares of PACCAR Inc. $PCAR

Allstate Corp lifted its position in PACCAR Inc. (NASDAQ:PCAR) by 101.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,223 shares of the company’s stock after purchasing an additional 19,259 shares during the period. Allstate Corp’s holdings in PACCAR were worth $4,186,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PCAR. UBS Group AG boosted its holdings in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares in the last quarter. American Century Companies Inc. boosted its holdings in PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after acquiring an additional 1,784,236 shares in the last quarter. Capital Research Global Investors boosted its holdings in PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after acquiring an additional 1,009,134 shares in the last quarter. Capital World Investors boosted its holdings in PACCAR by 11,269.8% in the third quarter. Capital World Investors now owns 807,712 shares of the company’s stock valued at $79,414,000 after acquiring an additional 800,608 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in PACCAR in the third quarter valued at $76,435,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $112.01 on Wednesday. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The stock has a market cap of $58.95 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $117.55 and its 200-day moving average price is $116.05.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent analyst reports. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Finally, Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently 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.