Nicolet Advisory Services LLC Decreases Stock Position in PACCAR Inc (NASDAQ:PCAR)

Nicolet Advisory Services LLC cut its position in PACCAR Inc (NASDAQ:PCAR) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,377 shares of the company’s stock after selling 130 shares during the period. Nicolet Advisory Services LLC’s holdings in PACCAR were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Advisors Asset Management Inc. lifted its position in shares of PACCAR by 43.5% during the 1st quarter. Advisors Asset Management Inc. now owns 16,913 shares of the company’s stock worth $2,095,000 after buying an additional 5,129 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in PACCAR in the first quarter valued at $534,000. LRI Investments LLC purchased a new stake in PACCAR during the first quarter worth about $65,000. BOKF NA increased its stake in PACCAR by 4.8% in the 1st quarter. BOKF NA now owns 16,840 shares of the company’s stock valued at $2,073,000 after purchasing an additional 772 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of PACCAR by 0.4% in the 1st quarter. Janus Henderson Group PLC now owns 68,188 shares of the company’s stock worth $8,445,000 after buying an additional 301 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PACCAR stock opened at $114.75 on Monday. The firm has a market cap of $60.16 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm’s 50-day simple moving average is $105.77 and its 200-day simple moving average is $102.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the business posted $2.34 earnings per share. Equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. PACCAR’s dividend payout ratio is currently 13.41%.

Insider Activity

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial upped their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $117.64.

PACCAR 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.