Lesa Sroufe & Co Makes New Investment in PACCAR Inc. $PCAR

Lesa Sroufe & Co bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,290 shares of the company’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after buying an additional 3,597,283 shares during the last quarter. State Street Corp boosted its stake in PACCAR by 0.4% in the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after buying an additional 94,869 shares in the last quarter. Geode Capital Management LLC boosted its stake in PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Finally, Norges Bank bought a new position in PACCAR in the fourth quarter valued at about $727,745,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PCAR shares. BNP Paribas Exane began coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $122.45.

PACCAR Price Performance

Shares of PCAR opened at $119.50 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $62.89 billion, a PE ratio of 25.43, a PEG ratio of 1.11 and a beta of 0.97. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $131.88. The business has a 50-day simple moving average of $116.34 and a two-hundred day simple moving average of $118.72.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the business posted $1.46 earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is presently 29.79%.

About PACCAR

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.