Insight Wealth Strategies LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Insight Wealth Strategies LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,271 shares of the company’s stock, valued at approximately $2,140,000.

A number of other institutional investors have also modified their holdings of the stock. Kapitalo Investimentos Ltda increased its holdings in shares of PACCAR by 19.2% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,769 shares of the company’s stock valued at $173,000 after purchasing an additional 285 shares during the period. HighPoint Advisor Group LLC acquired a new position in PACCAR during the fourth quarter worth $1,203,000. Wahed Invest LLC grew its holdings in PACCAR by 8.5% during the fourth quarter. Wahed Invest LLC now owns 8,751 shares of the company’s stock worth $855,000 after acquiring an additional 683 shares during the period. ICA Group Wealth Management LLC acquired a new position in PACCAR during the fourth quarter worth $51,000. Finally, SageView Advisory Group LLC acquired a new position in PACCAR during the fourth quarter worth $320,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCAR. Evercore ISI upped their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded down $0.05 on Wednesday, hitting $107.70. The company had a trading volume of 1,725,729 shares, compared to its average volume of 2,441,981. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $76.88 and a 52-week high of $125.50. The business has a 50 day moving average of $109.34 and a 200 day moving average of $107.21. The company has a market cap of $56.45 billion, a PE ratio of 11.17, a PEG ratio of 1.65 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the business earned $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.11%. The ex-dividend date was Tuesday, May 14th. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Activity at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is currently owned by insiders.

About PACCAR

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.