Pacer Advisors Inc. Grows Position in PACCAR Inc. $PCAR

Pacer Advisors Inc. grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 2,389.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,010,837 shares of the company’s stock after buying an additional 1,930,056 shares during the period. Pacer Advisors Inc.’s holdings in PACCAR were worth $197,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCAR. FORA Capital LLC acquired a new position in shares of PACCAR in the first quarter valued at about $597,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of PACCAR by 77.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after purchasing an additional 103,664 shares during the period. JT Stratford LLC purchased a new stake in PACCAR in the second quarter valued at approximately $1,301,000. Assenagon Asset Management S.A. increased its holdings in PACCAR by 46.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after buying an additional 88,551 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in PACCAR by 177.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after buying an additional 1,677,736 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group set a $103.00 price objective on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research report on Friday, December 5th. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.04.

PACCAR Stock Down 0.2%

PCAR stock opened at $111.53 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year high of $115.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The firm’s fifty day moving average is $103.57 and its 200 day moving average is $99.51. The firm has a market cap of $58.57 billion, a PE ratio of 21.82, a P/E/G ratio of 15.25 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 firm had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the company posted $1.85 EPS. The company’s revenue was down 20.7% on a year-over-year basis. On average, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 25.83%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.