SeaBridge Investment Advisors LLC Grows Stake in PACCAR Inc (NASDAQ:PCAR)

SeaBridge Investment Advisors LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,275 shares of the company’s stock after acquiring an additional 1,501 shares during the quarter. PACCAR accounts for about 1.3% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 17th biggest position. SeaBridge Investment Advisors LLC’s holdings in PACCAR were worth $5,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. PSI Advisors LLC purchased a new stake in shares of PACCAR during the first quarter worth about $25,000. AdvisorNet Financial Inc grew its stake in PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in PACCAR in the first quarter worth about $27,000. Riverview Trust Co acquired a new position in PACCAR in the first quarter worth about $29,000. Finally, Rise Advisors LLC acquired a new position in PACCAR in the first quarter worth about $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PCAR. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Truist Financial decreased their target price on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.92.

PACCAR Price Performance

Shares of NASDAQ PCAR traded down $1.78 during trading on Friday, hitting $100.22. The company had a trading volume of 2,214,356 shares, compared to its average volume of 2,531,051. The company has a market cap of $52.53 billion, a P/E ratio of 10.40, a PEG ratio of 1.22 and a beta of 0.92. PACCAR Inc has a 52 week low of $80.91 and a 52 week high of $125.50. The business’s 50-day moving average is $106.69 and its 200 day moving average is $107.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the company posted $2.25 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 8.34 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.30 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s payout ratio is currently 12.45%.

Insider Activity

In related news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock worth $4,779,241 in the last ninety days. Corporate 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.