OneAscent Wealth Management LLC Takes Position in PACCAR Inc (NASDAQ:PCAR)

OneAscent Wealth Management LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the first quarter, Holdings Channel reports. The fund acquired 1,816 shares of the company’s stock, valued at approximately $225,000.

A number of other large investors also recently bought and sold shares of PCAR. Norges Bank bought a new position in PACCAR in the fourth quarter worth approximately $448,288,000. TD Asset Management Inc raised its stake in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after buying an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. bought a new position in PACCAR in the fourth quarter worth approximately $87,441,000. Epoch Investment Partners Inc. raised its stake in PACCAR by 113.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after buying an additional 562,571 shares in the last quarter. Finally, Optimist Retirement Group LLC bought a new position in PACCAR in the fourth quarter worth approximately $37,032,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCAR. Truist Financial reissued a “hold” rating and issued a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Citigroup started coverage on shares of PACCAR in a report on Wednesday. They issued a “neutral” rating and a $115.00 price target on the stock. Raymond James started coverage on shares of PACCAR in a report on Friday. They issued a “market perform” rating on the stock. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $114.38.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

Shares of PCAR opened at $102.94 on Friday. PACCAR Inc has a 1-year low of $80.64 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The firm has a market capitalization of $53.96 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The company’s fifty day moving average price is $107.60 and its 200-day moving average price is $107.70.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the company earned $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc will post 8.35 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.17%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio is presently 12.45%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.