Edgestream Partners L.P. Acquires 18,951 Shares of PACCAR Inc (NASDAQ:PCAR)

Edgestream Partners L.P. boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 252.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,471 shares of the company’s stock after acquiring an additional 18,951 shares during the quarter. Edgestream Partners L.P.’s holdings in PACCAR were worth $2,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Jump Financial LLC increased its holdings in PACCAR by 12.9% in the fourth quarter. Jump Financial LLC now owns 3,984 shares of the company’s stock valued at $389,000 after purchasing an additional 456 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of PACCAR by 3.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,734 shares of the company’s stock valued at $4,954,000 after buying an additional 1,893 shares during the period. Kingsview Wealth Management LLC raised its position in shares of PACCAR by 3.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after acquiring an additional 100 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of PACCAR by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 10,094 shares of the company’s stock worth $986,000 after acquiring an additional 186 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in PACCAR by 13.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,079,908 shares of the company’s stock valued at $105,453,000 after acquiring an additional 126,720 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.7 %

Shares of PACCAR stock opened at $96.32 on Thursday. The stock has a market capitalization of $50.49 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The stock has a 50 day moving average price of $97.11 and a two-hundred day moving average price of $106.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial cut their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup lowered their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $112.73.

About PACCAR

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.