Envestnet Portfolio Solutions Inc. Has $2.34 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Envestnet Portfolio Solutions Inc. trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,455 shares of the company’s stock after selling 2,660 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in PACCAR were worth $2,336,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PCAR. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter worth approximately $37,000. Kestra Investment Management LLC bought a new stake in PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management bought a new stake in PACCAR in the fourth quarter worth approximately $43,000. Atala Financial Inc bought a new stake in PACCAR in the fourth quarter worth approximately $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR in the fourth quarter worth approximately $44,000. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PCAR shares. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Trading Down 1.3 %

Shares of PCAR stock opened at $98.32 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, 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 quick ratio of 1.39 and a current ratio of 2.54. The firm has a fifty day moving average of $106.48 and a 200-day moving average of $106.40.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s dividend payout ratio is currently 16.69%.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

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.