Prospera Financial Services Inc Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Prospera Financial Services Inc trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 31.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,752 shares of the company’s stock after selling 1,714 shares during the quarter. Prospera Financial Services Inc’s holdings in PACCAR were worth $370,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at $88,437,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in PACCAR in the second quarter valued at $51,277,000. Squarepoint Ops LLC lifted its position in shares of PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after purchasing an additional 428,378 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $39,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in PACCAR by 130.5% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock worth $66,023,000 after purchasing an additional 378,810 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR stock opened at $114.75 on Monday. The company has a market capitalization of $60.16 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.79 and a beta of 0.89. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $105.77 and its 200-day simple moving average is $102.99.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.34 EPS. On average, sell-side analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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 given a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. PACCAR’s payout ratio is 13.41%.

Analyst Ratings Changes

A number of brokerages have commented on PCAR. JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial lifted their price target on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.64.

Insider Buying and Selling at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR 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.