FORA Capital LLC Purchases 36,239 Shares of PACCAR Inc (NASDAQ:PCAR)

FORA Capital LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 92.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,457 shares of the company’s stock after acquiring an additional 36,239 shares during the period. PACCAR makes up approximately 0.9% of FORA Capital LLC’s investment portfolio, making the stock its 25th largest holding. FORA Capital LLC’s holdings in PACCAR were worth $7,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter worth $27,000. Quarry LP bought a new position in PACCAR during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the second quarter valued at about $36,000. Finally, Fortitude Family Office LLC boosted its position in shares of PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after buying an additional 244 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last ninety days. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.12 during trading on Wednesday, hitting $115.94. 104,523 shares of the stock were exchanged, compared to its average volume of 2,605,188. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a market capitalization of $60.79 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The company has a fifty day moving average price of $106.55 and a 200-day moving average price of $103.09. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

Analyst Ratings Changes

PCAR has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average price target of $117.64.

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.