Proficio Capital Partners LLC Buys New Position in PACCAR Inc (NASDAQ:PCAR)

Proficio Capital Partners LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,062 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC bought a new stake in PACCAR during the fourth quarter worth approximately $37,000. Regents Gate Capital LLP acquired a new position in PACCAR in the fourth quarter worth approximately $44,000. AdvisorNet Financial Inc increased its holdings in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares in the last quarter. Finally, Sander Capital Advisors Inc. lifted its position in shares of PACCAR by 22.4% during the 4th quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock valued at $64,000 after acquiring an additional 113 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent research reports. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last three months. 2.02% of the stock is owned by insiders.

PACCAR Stock Down 1.3 %

PACCAR stock opened at $98.19 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market cap of $51.54 billion, a PE ratio of 12.41, a P/E/G ratio of 2.77 and a beta of 0.91. The firm’s 50 day moving average price is $105.45 and its two-hundred day moving average price is $106.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

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.