Worldquant Millennium Advisors LLC Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Worldquant Millennium Advisors LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 125.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,739 shares of the company’s stock after purchasing an additional 42,084 shares during the period. Worldquant Millennium Advisors LLC’s holdings in PACCAR were worth $7,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of PACCAR in the second quarter worth $88,437,000. Erste Asset Management GmbH purchased a new stake in shares of PACCAR in the third quarter worth $63,186,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after acquiring an additional 576,532 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of PACCAR by 3,019.7% in the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after acquiring an additional 428,378 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.5 %

PCAR stock opened at $115.88 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business’s 50-day moving average is $109.50 and its two-hundred day moving average is $103.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.91.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCAR shares. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday. Citigroup increased their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.83.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

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.