Prudential Financial Inc. Sells 70,238 Shares of PACCAR Inc (NASDAQ:PCAR)

Prudential Financial Inc. decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 19.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 282,394 shares of the company’s stock after selling 70,238 shares during the period. Prudential Financial Inc. owned 0.05% of PACCAR worth $29,375,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LPL Financial LLC increased its stake in shares of PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares during the period. KLP Kapitalforvaltning AS acquired a new position in PACCAR in the 4th quarter valued at $32,859,000. Sei Investments Co. increased its position in PACCAR by 3.6% during the 4th quarter. Sei Investments Co. now owns 126,268 shares of the company’s stock worth $13,134,000 after buying an additional 4,422 shares during the period. American Century Companies Inc. lifted its holdings in shares of PACCAR by 15.8% during the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after buying an additional 86,215 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of PACCAR by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 49,692 shares of the company’s stock valued at $5,169,000 after acquiring an additional 15,699 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $99.24 on Wednesday. The firm’s fifty day moving average price is $105.88 and its two-hundred day moving average price is $106.65. The stock has a market cap of $52.09 billion, a PE ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PCAR. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their price target for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Finally, Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $118.23.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

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.