Prudential Financial Inc. Has $29.38 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Prudential Financial Inc. lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,394 shares of the company’s stock after selling 70,238 shares during the quarter. Prudential Financial Inc.’s holdings in PACCAR were worth $29,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the 4th quarter valued at $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the fourth quarter worth $43,000. Atala Financial Inc bought a new position in shares of PACCAR in the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter valued at about $44,000. 64.90% of the stock is owned by institutional investors.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last quarter. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $118.23.

PACCAR Price Performance

PACCAR stock opened at $99.24 on Wednesday. The business’s 50 day simple moving average is $105.88 and its 200 day simple moving average is $106.65. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market cap of $52.09 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced 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 an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

PACCAR 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.