Fjarde AP Fonden Fourth Swedish National Pension Fund Makes New $10.52 Million Investment in PACCAR Inc. $PCAR

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 91,100 shares of the company’s stock, valued at approximately $10,522,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR during the 4th quarter worth $727,745,000. Wellington Management Group LLP grew its stake in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after purchasing an additional 3,597,283 shares during the last quarter. UBS Group AG grew its stake 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 purchasing an additional 1,940,260 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in PACCAR by 129.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after purchasing an additional 1,286,056 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in PACCAR by 17,292.6% in the fourth quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after purchasing an additional 1,195,785 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. 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 price objective for the company. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price 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. Finally, Citigroup reaffirmed a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.45.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $119.50 on Friday. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88. The company has a market cap of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The business has a 50-day simple moving average of $116.34 and a two-hundred day simple moving average of $118.72.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate 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 company posted $1.46 earnings per share. As a group, equities analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

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.