New Mexico Educational Retirement Board Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

New Mexico Educational Retirement Board decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,979 shares of the company’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in PACCAR were worth $2,598,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PCAR. Creative Planning boosted its position in shares of PACCAR by 2.6% during the third quarter. Creative Planning now owns 74,672 shares of the company’s stock valued at $7,369,000 after buying an additional 1,920 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of PACCAR by 4.5% during the third quarter. Global Retirement Partners LLC now owns 5,573 shares of the company’s stock valued at $550,000 after buying an additional 241 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of PACCAR by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 8,721 shares of the company’s stock valued at $861,000 after buying an additional 109 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of PACCAR by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,491 shares of the company’s stock valued at $6,857,000 after buying an additional 1,322 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of PACCAR by 66.9% during the third quarter. V Square Quantitative Management LLC now owns 3,350 shares of the company’s stock valued at $331,000 after buying an additional 1,343 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $105.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market cap of $55.55 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. The business’s fifty day moving average is $108.32 and its 200 day moving average is $104.79.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts predict that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 15.17%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $121.95.

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.