Wealthfront Advisers LLC Buys 21,046 Shares of PACCAR Inc. $PCAR

Wealthfront Advisers LLC increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 29.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 93,430 shares of the company’s stock after acquiring an additional 21,046 shares during the period. Wealthfront Advisers LLC’s holdings in PACCAR were worth $8,881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its stake in PACCAR by 67.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 147,522 shares of the company’s stock valued at $14,023,000 after acquiring an additional 59,436 shares during the period. QV Investors Inc. increased its stake in PACCAR by 0.7% in the second quarter. QV Investors Inc. now owns 49,020 shares of the company’s stock valued at $4,660,000 after acquiring an additional 330 shares during the period. Interchange Capital Partners LLC increased its stake in PACCAR by 20.6% in the second quarter. Interchange Capital Partners LLC now owns 2,314 shares of the company’s stock valued at $220,000 after acquiring an additional 396 shares during the period. Linden Thomas Advisory Services LLC increased its stake in PACCAR by 52.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 11,209 shares of the company’s stock valued at $1,066,000 after acquiring an additional 3,865 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs increased its stake in PACCAR by 4.5% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 21,093 shares of the company’s stock valued at $2,005,000 after acquiring an additional 904 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PCAR shares. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.59.

PACCAR Trading Up 0.9%

Shares of NASDAQ PCAR opened at $101.08 on Tuesday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market cap of $53.08 billion, a PE ratio of 19.78, a P/E/G ratio of 4.18 and a beta of 0.94. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $98.57 and a two-hundred day moving average of $95.84.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. The company’s revenue was down 20.7% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is currently 25.83%.

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.