PACCAR Inc (NASDAQ:PCAR) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc grew its stake in PACCAR Inc (NASDAQ:PCAR) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,325 shares of the company’s stock after buying an additional 214 shares during the quarter. Versant Capital Management Inc’s holdings in PACCAR were worth $138,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. Wellington Management Group LLP lifted its position in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at about $88,437,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of PACCAR during the 3rd quarter worth about $63,186,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last ninety days. 2.02% of the stock is currently owned by company insiders.

PACCAR Trading Up 1.4 %

Shares of PACCAR stock opened at $104.90 on Friday. The firm has a market cap of $55.00 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company’s 50-day simple moving average is $111.00 and its 200-day simple moving average is $103.82. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

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

PACCAR Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s payout ratio is presently 14.75%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.50.

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.