Wealth Enhancement Advisory Services LLC Sells 4,890 Shares of PACCAR Inc (NASDAQ:PCAR)

Wealth Enhancement Advisory Services LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.4% during the first quarter, HoldingsChannel reports. The firm owned 351,911 shares of the company’s stock after selling 4,890 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in PACCAR were worth $43,598,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares during the period. Norges Bank bought a new position in shares of PACCAR in the fourth quarter worth about $448,288,000. Charles Schwab Investment Management Inc. increased its stake in shares of PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after purchasing an additional 54,273 shares during the period. First Trust Advisors LP increased its stake in shares of PACCAR by 0.9% in the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after purchasing an additional 23,394 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after purchasing an additional 1,095,894 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Down 0.3 %

NASDAQ PCAR opened at $103.97 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $107.96 and its two-hundred day moving average is $107.62. The company has a market capitalization of $54.50 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.59 and a beta of 0.94. PACCAR Inc has a 1-year low of $79.95 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. PACCAR’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is 12.45%.

Insider Activity

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,040 shares of company stock worth $4,779,241. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCAR. StockNews.com lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial reissued a “hold” rating and set a $121.00 target price (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, Raymond James started coverage on PACCAR in a research report on Friday. They set a “market perform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $114.38.

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.