Jasper Ridge Partners L.P. maintained its stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 864,556 shares of the company’s stock at the end of the 2nd quarter. PACCAR comprises about 3.1% of Jasper Ridge Partners L.P.’s holdings, making the stock its 12th biggest holding. Jasper Ridge Partners L.P. owned 0.25% of PACCAR worth $57,095,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of PACCAR during the 1st quarter valued at about $577,000. Principal Financial Group Inc. boosted its holdings in shares of PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after acquiring an additional 2,038,761 shares during the last quarter. Morse Asset Management Inc purchased a new stake in shares of PACCAR during the 1st quarter valued at about $774,000. Point72 Europe London LLP purchased a new stake in shares of PACCAR during the 1st quarter valued at about $1,137,000. Finally, Perkins Coie Trust Co boosted its holdings in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after acquiring an additional 1,157 shares during the last quarter. 62.69% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Inc. (NASDAQ PCAR) traded up 0.03% on Monday, reaching $67.62. 370,215 shares of the company’s stock traded hands. The stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 18.10 and a beta of 1.15. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $70.32. The firm has a 50-day moving average price of $66.13 and a 200-day moving average price of $66.05.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. On average, analysts predict that PACCAR Inc. will post $4.00 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Monday, August 14th. PACCAR’s dividend payout ratio (DPR) is 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.64% of the company’s stock.
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A number of equities analysts recently issued reports on the stock. Jefferies Group LLC set a $77.00 price objective on shares of PACCAR and gave the stock a “buy” rating in a report on Sunday, May 28th. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, June 15th. Finally, BidaskClub downgraded shares of PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. PACCAR currently has a consensus rating of “Hold” and an average price target of $71.74.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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