MBB Public Markets I LLC Purchases New Shares in PACCAR Inc (NASDAQ:PCAR)

MBB Public Markets I LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 37,139 shares of the company’s stock, valued at approximately $3,823,000.

A number of other large investors also recently added to or reduced their stakes in PCAR. Cambridge Investment Research Advisors Inc. raised its position in shares of PACCAR by 24.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,788 shares of the company’s stock worth $1,932,000 after purchasing an additional 3,874 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of PACCAR by 0.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 46,171 shares of the company’s stock valued at $4,509,000 after acquiring an additional 337 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of PACCAR by 5.5% in the fourth quarter. Stifel Financial Corp now owns 173,083 shares of the company’s stock worth $16,902,000 after acquiring an additional 8,969 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $242,000. Finally, Avestar Capital LLC acquired a new position in PACCAR in the 4th quarter valued at $302,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. Evercore ISI lowered their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.73.

PACCAR Trading Up 0.3 %

PCAR opened at $98.13 on Friday. The stock has a market capitalization of $51.44 billion, a PE ratio of 10.18, a P/E/G ratio of 1.53 and a beta of 0.91. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The business’s 50 day moving average price is $96.18 and its 200 day moving average price is $105.76.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. As a group, equities research analysts expect that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

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.