Great West Life Assurance Co. Can cut its position in PACCAR Inc (NASDAQ:PCAR) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 271,636 shares of the company’s stock after selling 2,496 shares during the period. Great West Life Assurance Co. Can owned approximately 0.08% of PACCAR worth $18,234,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Boltwood Capital Management acquired a new stake in PACCAR during the first quarter worth approximately $201,000. Schneider Downs Wealth Management Advisors LP acquired a new stake in PACCAR during the first quarter worth approximately $202,000. LVM Capital Management Ltd. MI acquired a new stake in PACCAR during the first quarter worth approximately $206,000. Wexford Capital LP acquired a new stake in PACCAR during the fourth quarter worth approximately $211,000. Finally, Fortis Advisors LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $220,000. 60.60% of the stock is owned by institutional investors and hedge funds.
PACCAR Inc (NASDAQ:PCAR) traded up 0.21% during trading on Friday, hitting $67.04. The stock had a trading volume of 1,112,147 shares. PACCAR Inc has a 52-week low of $48.17 and a 52-week high of $70.12. The firm has a market cap of $23.55 billion, a PE ratio of 16.57 and a beta of 1.26. The company’s 50 day moving average is $66.81 and its 200 day moving average is $64.88.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. PACCAR had a net margin of 3.12% and a return on equity of 20.21%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post $3.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th will be issued a $0.25 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. PACCAR’s dividend payout ratio is presently 64.86%.
A number of analysts have commented on PCAR shares. Seaport Global Securities reissued a “buy” rating and issued a $80.00 target price on shares of PACCAR in a report on Thursday, April 6th. Royal Bank of Canada reissued a “buy” rating and issued a $75.00 target price on shares of PACCAR in a report on Wednesday, March 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $77.00 target price on shares of PACCAR in a report on Friday, March 17th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of PACCAR in a report on Thursday, April 20th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $68.00 target price on shares of PACCAR in a report on Sunday, February 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.07.
In other PACCAR news, insider Robert A. Bengston sold 20,472 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $68.18, for a total value of $1,395,780.96. Following the completion of the sale, the insider now owns 24,808 shares in the company, valued at approximately $1,691,409.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael T. Barkley sold 8,736 shares of the stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $69.74, for a total transaction of $609,248.64. Following the completion of the sale, the insider now owns 19,249 shares of the company’s stock, valued at approximately $1,342,425.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,993 shares of company stock valued at $2,126,316. 2.62% of the stock is owned by insiders.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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