Virtus Fund Advisers LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443,012 shares of the company’s stock after selling 290,256 shares during the quarter. Virtus Fund Advisers LLC owned about 0.13% of PACCAR worth $32,021,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of PACCAR by 8.9% during the 4th quarter. BlackRock Inc. now owns 29,378,299 shares of the company’s stock valued at $2,088,211,000 after acquiring an additional 2,401,617 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock worth $489,402,000 after purchasing an additional 694,185 shares during the period. Victory Capital Management Inc. lifted its stake in shares of PACCAR by 8.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,041,683 shares of the company’s stock worth $216,203,000 after purchasing an additional 235,097 shares during the period. Boston Partners lifted its stake in shares of PACCAR by 25.0% in the 4th quarter. Boston Partners now owns 2,696,016 shares of the company’s stock worth $191,633,000 after purchasing an additional 539,915 shares during the period. Finally, US Bancorp DE lifted its stake in shares of PACCAR by 10.2% in the 4th quarter. US Bancorp DE now owns 2,662,492 shares of the company’s stock worth $189,251,000 after purchasing an additional 245,816 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on PCAR. Wells Fargo & Co increased their price objective on shares of PACCAR from $75.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Seaport Global Securities reiterated a “neutral” rating on shares of PACCAR in a research note on Tuesday, January 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $77.00 price objective on shares of PACCAR in a research note on Tuesday, January 30th. Buckingham Research increased their price objective on shares of PACCAR from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price objective on shares of PACCAR in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. PACCAR has an average rating of “Hold” and an average target price of $76.24.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 30th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.87 billion. PACCAR had a net margin of 8.61% and a return on equity of 19.65%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 EPS. sell-side analysts predict that PACCAR Inc will post 5.29 earnings per share for the current fiscal year.
In related news, VP Marco A. Davila acquired 570 shares of PACCAR stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $69.05 per share, for a total transaction of $39,358.50. Following the completion of the transaction, the vice president now directly owns 7,536 shares in the company, valued at approximately $520,360.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.64% of the company’s stock.
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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