Nomura Asset Management Co. Ltd. Has $41.32 Million Position in PACCAR Inc (NASDAQ:PCAR)

Nomura Asset Management Co. Ltd. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 125.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 397,236 shares of the company’s stock after acquiring an additional 221,410 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PACCAR were worth $41,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $37,000. OFI Invest Asset Management bought a new position in PACCAR during the fourth quarter worth $43,000. Atala Financial Inc acquired a new position in PACCAR in the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR during the fourth quarter valued at $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last quarter. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.38.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $96.91 on Friday. The stock has a market cap of $50.87 billion, a price-to-earnings ratio of 12.25, 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 $124.39. The firm’s 50-day simple moving average is $105.19 and its 200 day simple moving average is $106.55.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR’s dividend payout ratio is presently 16.69%.

About PACCAR

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.