Proficio Capital Partners LLC Takes $215,000 Position in PACCAR Inc (NASDAQ:PCAR)

Proficio Capital Partners LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,062 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Wellington Management Group LLP increased its holdings in 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. JPMorgan Chase & Co. grew its position in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of PACCAR in the third quarter worth $63,186,000. KBC Group NV raised its holdings in PACCAR by 185.7% in the fourth quarter. KBC Group NV now owns 688,808 shares of the company’s stock valued at $71,649,000 after acquiring an additional 447,711 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in PACCAR by 15.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,168,225 shares of the company’s stock valued at $213,960,000 after acquiring an additional 286,600 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, 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 value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and dropped their price target for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.38.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $98.19 on Friday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a market capitalization of $51.54 billion, a PE ratio of 12.41, 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 current ratio of 2.54 and a quick ratio of 1.39. The business’s fifty day moving average price is $105.45 and its two-hundred day moving average price is $106.54.

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

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is 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.