PensionDanmark Pensionsforsikringsaktieselskab Boosts Stock Holdings in PACCAR Inc. $PCAR

PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,480 shares of the company’s stock after acquiring an additional 7,400 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in PACCAR were worth $9,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Ares Financial Consulting LLC acquired a new position in PACCAR in the 4th quarter valued at $27,000. Steph & Co. acquired a new stake in PACCAR during the 1st quarter worth $29,000. MCF Advisors LLC boosted its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of PACCAR during the fourth quarter worth $30,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of PACCAR during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Stock Up 0.8%

Shares of PCAR opened at $133.11 on Friday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a market capitalization of $70.06 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The stock has a fifty day simple moving average of $123.62 and a two-hundred day simple moving average of $121.33. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the company posted $1.37 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is 29.41%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company upped their price objective on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Truist Financial boosted their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $131.70.

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.