Riverwater Partners LLC Lowers Position in PACCAR Inc (NASDAQ:PCAR)

Riverwater Partners LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,658 shares of the company’s stock after selling 232 shares during the period. Riverwater Partners LLC’s holdings in PACCAR were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Madrona Financial Services LLC boosted its holdings in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares during the last quarter. Global Financial Private Client LLC lifted its stake in shares of PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares in the last quarter. PDS Planning Inc grew its holdings in shares of PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after purchasing an additional 101 shares during the period. Valley National Advisers Inc. increased its position in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after buying an additional 107 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $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 have sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent research reports. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Citigroup decreased their price target on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Melius Research set a $120.00 price target on PACCAR in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Price Performance

Shares of PCAR stock opened at $90.88 on Friday. The firm has a fifty day moving average of $103.74 and a two-hundred day moving average of $106.57. The firm has a market cap of $47.71 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1-year low of $89.67 and a 1-year high of $123.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced 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 net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio is currently 16.69%.

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.