Evergreen Capital Management LLC Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Evergreen Capital Management LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 694,471 shares of the company’s stock after buying an additional 15,058 shares during the quarter. PACCAR comprises approximately 2.4% of Evergreen Capital Management LLC’s holdings, making the stock its 3rd largest holding. Evergreen Capital Management LLC owned approximately 0.13% of PACCAR worth $74,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PCAR. Principal Financial Group Inc. grew its holdings in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of PACCAR during the third quarter valued at approximately $370,000. McIlrath & Eck LLC raised its holdings in shares of PACCAR by 16.0% in the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock worth $2,769,000 after buying an additional 3,878 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of PACCAR by 24.3% during 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 during the last quarter. Finally, World Investment Advisors LLC purchased a new position in PACCAR during the 3rd quarter valued at $419,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.8 %

NASDAQ:PCAR opened at $88.82 on Wednesday. The company’s 50-day simple moving average is $100.20 and its 200-day simple moving average is $106.03. 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 $85.10 and a fifty-two week high of $118.81. The stock has a market capitalization of $46.62 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.77 and a beta of 0.96.

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

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Truist Financial decreased their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Citigroup dropped their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $112.13.

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.