Creative Planning increased its stake in PACCAR Inc (NASDAQ:PCAR) by 1.7% in the first quarter, Holdings Channel reports. The fund owned 15,660 shares of the company’s stock after purchasing an additional 262 shares during the period. Creative Planning’s holdings in PACCAR were worth $1,067,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Truvestments Capital LLC bought a new stake in shares of PACCAR in the 1st quarter valued at about $42,000. Berman Capital Advisors LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $43,000. Lindbrook Capital LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $47,000. American Research & Management Co. bought a new stake in shares of PACCAR in the 1st quarter valued at about $68,000. Finally, Synovus Financial Corp lifted its stake in shares of PACCAR by 1,116.5% in the 4th quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock valued at $72,000 after acquiring an additional 1,150 shares during the last quarter. 62.69% of the stock is owned by institutional investors.
In other PACCAR news, VP David J. Danforth sold 1,549 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $64.49, for a total transaction of $99,895.01. Following the transaction, the vice president now owns 6,571 shares in the company, valued at approximately $423,763.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darrin C. Siver sold 8,088 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $68.81, for a total value of $556,535.28. Following the transaction, the senior vice president now owns 24,335 shares in the company, valued at approximately $1,674,491.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,489 shares of company stock worth $4,062,860. 2.32% of the stock is owned by company insiders.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the business earned $1.45 EPS. PACCAR’s revenue was up 17.3% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 6.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.79%. PACCAR’s dividend payout ratio is presently 20.51%.
A number of equities research analysts have recently weighed in on PCAR shares. Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Credit Suisse Group restated a “hold” rating and set a $63.00 price target on shares of PACCAR in a report on Tuesday, January 22nd. Finally, Robert W. Baird upgraded PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price target on the stock in a report on Thursday, February 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.72.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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