Natixis Advisors LLC Has $72.06 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Natixis Advisors LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 60.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 699,992 shares of the company’s stock after purchasing an additional 263,667 shares during the quarter. Natixis Advisors LLC owned approximately 0.13% of PACCAR worth $72,057,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. PSI Advisors LLC acquired a new position in shares of PACCAR in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. bought a new stake in PACCAR in the first quarter worth approximately $27,000. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter worth approximately $27,000. Riverview Trust Co bought a new stake in PACCAR in the first quarter worth approximately $29,000. Finally, Rise Advisors LLC bought a new stake in PACCAR in the first quarter worth approximately $31,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Truist Financial cut their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup dropped their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $112.73.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR 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 completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $96.18 on Monday. The firm has a market cap of $50.41 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.49 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The business’s fifty day moving average is $99.10 and its 200 day moving average is $107.68. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

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

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.