New Mexico Educational Retirement Board Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

New Mexico Educational Retirement Board decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,979 shares of the company’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in PACCAR were worth $2,598,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its position in PACCAR by 14.0% during the fourth quarter. V Square Quantitative Management LLC now owns 3,820 shares of the company’s stock valued at $397,000 after purchasing an additional 470 shares in the last quarter. Vontobel Holding Ltd. raised its position in PACCAR by 2.5% during the fourth quarter. Vontobel Holding Ltd. now owns 109,468 shares of the company’s stock valued at $11,387,000 after purchasing an additional 2,679 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of PACCAR by 13.8% in the fourth quarter. Avestar Capital LLC now owns 3,086 shares of the company’s stock worth $330,000 after buying an additional 375 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of PACCAR in the fourth quarter worth about $1,851,000. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of PACCAR by 1.0% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 19,808 shares of the company’s stock worth $2,060,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $105.96 on Friday. The stock’s 50 day simple moving average is $108.32 and its two-hundred day simple moving average is $104.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market cap of $55.55 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts expect that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 15.17%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale 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 business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on PCAR. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

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.