PACCAR Inc. $PCAR Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 185.6% in the 1st quarter, Holdings Channel reports. The firm owned 39,473 shares of the company’s stock after buying an additional 25,650 shares during the period. Assenagon Asset Management S.A.’s holdings in PACCAR were worth $4,559,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. grew its position in PACCAR by 19.1% in the first quarter. Cidel Asset Management Inc. now owns 4,525 shares of the company’s stock worth $523,000 after buying an additional 726 shares during the last quarter. Steph & Co. acquired a new stake in shares of PACCAR during the 1st quarter valued at $29,000. Evolve Private Wealth LLC lifted its position in shares of PACCAR by 16.3% during the 1st quarter. Evolve Private Wealth LLC now owns 3,027 shares of the company’s stock valued at $350,000 after acquiring an additional 424 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of PACCAR during the 1st quarter worth $956,000. Finally, Park National Corp OH grew its holdings in shares of PACCAR by 105.4% in the 1st quarter. Park National Corp OH now owns 29,250 shares of the company’s stock worth $3,378,000 after acquiring an additional 15,007 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PCAR stock opened at $119.60 on Tuesday. The firm has a 50 day simple moving average of $116.86 and a 200 day simple moving average of $118.55. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $131.88. The stock has a market cap of $62.94 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.12 and a beta of 0.98. 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 (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The firm 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%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. Research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed 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 is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio is 29.79%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane started coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Truist Financial lifted their target price on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus 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.