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

Nomura Asset Management Co. Ltd. increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 125.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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. owned about 0.08% of PACCAR worth $41,320,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PCAR. Everence Capital Management Inc. bought a new position in shares of PACCAR in the fourth quarter valued at about $1,984,000. Cullen Frost Bankers Inc. raised its holdings in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the period. Sanctuary Advisors LLC lifted its position in PACCAR by 24.3% during the third 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 during the last quarter. Insight Wealth Strategies LLC boosted its holdings in shares of PACCAR by 21.6% during the fourth 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 during the period. Finally, Versant Capital Management Inc increased its stake in shares of PACCAR by 19.3% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $96.91 on Friday. 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 52 week low of $90.04 and a 52 week high of $124.39. The stock has a market capitalization of $50.87 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The stock has a fifty day moving average of $105.19 and a 200-day moving average of $106.55.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 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, sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insiders Place Their Bets

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now 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 have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Finally, Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $118.38.

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.