PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,819 shares of the company’s stock after purchasing an additional 1,523 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in PACCAR were worth $4,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PCAR. State Board of Administration of Florida Retirement System grew its holdings in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after buying an additional 27,963 shares in the last quarter. abrdn plc increased its stake in PACCAR by 50.9% during the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares during the last quarter. BDF Gestion bought a new stake in PACCAR during the second quarter valued at $2,862,000. California State Teachers Retirement System grew its position in shares of PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in PACCAR by 15.9% in the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Truist Financial reduced their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.73.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

Shares of PACCAR stock traded up $1.18 on Friday, reaching $96.46. 1,771,613 shares of the stock were exchanged, compared to its average volume of 2,634,815. The firm’s 50 day moving average is $100.31 and its 200-day moving average is $108.01. The firm has a market cap of $50.56 billion, a PE ratio of 10.01, a P/E/G ratio of 1.47 and a beta of 0.92. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 earnings per share. As a group, analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PACCAR’s dividend payout ratio is currently 12.45%.

About PACCAR

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.