QV Investors Inc. Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

QV Investors Inc. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,425 shares of the company’s stock after purchasing an additional 270 shares during the quarter. QV Investors Inc.’s holdings in PACCAR were worth $4,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC purchased a new stake in shares of PACCAR in the 4th quarter worth $225,000. SageView Advisory Group LLC purchased a new stake in PACCAR in the fourth quarter worth about $320,000. HighPoint Advisor Group LLC bought a new position in shares of PACCAR in the fourth quarter worth about $1,203,000. Kapitalo Investimentos Ltda lifted its position in shares of PACCAR by 19.2% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,769 shares of the company’s stock valued at $173,000 after buying an additional 285 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of PACCAR by 14.3% during the 1st quarter. GAMMA Investing LLC now owns 4,148 shares of the company’s stock valued at $514,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.41 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market cap of $55.77 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.61 and a beta of 0.91. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock’s 50 day simple moving average is $97.25 and its two-hundred day simple moving average is $103.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 earnings per share. As a group, equities analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.13%. PACCAR’s payout ratio is currently 12.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Citigroup upped their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Truist Financial lowered their price objective on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $114.00.

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.