Catalina Capital Group LLC Grows Position in PACCAR Inc (NASDAQ:PCAR)

Catalina Capital Group LLC raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 26.9% during the 2nd quarter, Holdings Channel reports. The fund owned 2,316 shares of the company’s stock after purchasing an additional 491 shares during the period. Catalina Capital Group LLC’s holdings in PACCAR were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after purchasing an additional 27,963 shares during the period. abrdn plc grew its holdings in PACCAR by 50.9% during the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares during the last quarter. BDF Gestion purchased a new stake in PACCAR in the 2nd quarter worth about $2,862,000. California State Teachers Retirement System lifted its stake in PACCAR by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after purchasing an additional 9,978 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after buying an additional 7,678 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PCAR traded up $1.18 during midday trading on Friday, hitting $96.46. 1,771,613 shares of the company were exchanged, compared to its average volume of 2,634,815. The company’s 50 day simple moving average is $100.31 and its 200 day simple moving average is $108.01. The firm has a market capitalization of $50.56 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.24%. PACCAR’s dividend payout ratio is presently 12.45%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PCAR shares. Citigroup dropped their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $112.73.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

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.