MUFG Securities EMEA plc Purchases 11,500 Shares of PACCAR Inc. $PCAR

by · The Cerbat Gem

MUFG Securities EMEA plc increased its position in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 114.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,551 shares of the company’s stock after buying an additional 11,500 shares during the quarter. MUFG Securities EMEA plc’s holdings in PACCAR were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of PACCAR during the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new stake in shares of PACCAR during the 4th quarter worth $30,000. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the 3rd quarter worth $32,000. Camelot Portfolios LLC bought a new stake in shares of PACCAR during the 4th quarter worth $33,000. Finally, AlphaQuest LLC bought a new stake in shares of PACCAR during the 3rd quarter worth $38,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Truist Financial increased their price target on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report 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. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.00.

Check Out Our Latest Research Report on PCAR

PACCAR Price Performance

NASDAQ:PCAR opened at $109.47 on Tuesday. The company has a 50-day moving average of $117.27 and a 200-day moving average of $116.40. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.02 and a beta of 0.98. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

PACCAR Profile

(Free Report)

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.

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