Public Employees Retirement Association of Colorado Cuts Position in PACCAR Inc (NASDAQ:PCAR)

Public Employees Retirement Association of Colorado decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,980 shares of the company’s stock after selling 2,375 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PACCAR were worth $7,616,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PCAR. Dimensional Fund Advisors LP increased its position in shares of PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares in the last quarter. Fisher Asset Management LLC increased its position in PACCAR by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares in the last quarter. Capital International Investors increased its position in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. increased its position in PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Finally, First Trust Advisors LP increased its position in PACCAR by 0.9% during the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after purchasing an additional 23,394 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $98.91 on Friday. The firm has a market capitalization of $51.85 billion, a P/E ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The business’s 50-day simple moving average is $96.95 and its 200-day simple moving average is $106.15.

PACCAR (NASDAQ:PCAR) last released 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). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Equities analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio is presently 12.45%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PCAR shares. Evercore ISI dropped their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup dropped their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.73.

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.