Advisory Services Network LLC Cuts Holdings in PACCAR Inc (NASDAQ:PCAR)

Advisory Services Network LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 23.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,462 shares of the company’s stock after selling 9,777 shares during the quarter. Advisory Services Network LLC’s holdings in PACCAR were worth $3,273,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Everence Capital Management Inc. acquired a new stake in PACCAR in the fourth quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. raised its holdings in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares in the last quarter. LPL Financial LLC lifted its position in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $88.77 on Friday. PACCAR Inc has a one year low of $85.10 and a one year high of $121.75. The stock has a market capitalization of $46.60 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.77 and a beta of 0.96. The company has a 50-day simple moving average of $101.28 and a 200-day simple moving average of $106.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $108.00 to $78.00 in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $113.46.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by insiders.

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.