Zevenbergen Capital Investments LLC Raises Position in PACCAR Inc (NASDAQ:PCAR)

Zevenbergen Capital Investments LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,445 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in PACCAR were worth $2,439,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter worth $37,000. Atala Financial Inc acquired a new position in shares of PACCAR during the fourth quarter worth $43,000. Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter worth $44,000. Finally, OFI Invest Asset Management acquired a new position in shares of PACCAR during the fourth quarter worth $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 1.2 %

PACCAR stock opened at $97.11 on Monday. The company has a 50-day simple moving average of $106.29 and a 200-day simple moving average of $106.56. The firm has a market capitalization of $50.96 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Buying and Selling

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on PCAR shares. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Melius Research raised shares of PACCAR to a “strong-buy” rating in a research report on Tuesday, March 18th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

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.