EverSource Wealth Advisors LLC Buys 107 Shares of PACCAR Inc (NASDAQ:PCAR)

EverSource Wealth Advisors LLC grew its stake in PACCAR Inc (NASDAQ:PCAR) by 14.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 850 shares of the company’s stock after purchasing an additional 107 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in PACCAR were worth $88,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new position in PACCAR in the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. grew its stake in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC grew its stake in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 0.9 %

NASDAQ PCAR opened at $100.21 on Wednesday. The company has a fifty day simple moving average of $106.86 and a two-hundred day simple moving average of $106.50. The stock has a market cap of $52.59 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Evercore ISI dropped their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.23.

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.