Allspring Global Investments Holdings LLC Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

Allspring Global Investments Holdings LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,886 shares of the company's stock after selling 138,408 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in PACCAR were worth $17,175,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PCAR. Prudential PLC purchased a new stake in shares of PACCAR during the 1st quarter worth approximately $763,000. Vanguard Group Inc. boosted its stake in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company's stock worth $3,213,241,000 after acquiring an additional 698,784 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company's stock worth $6,046,000 after acquiring an additional 27,300 shares in the last quarter. Covestor Ltd boosted its stake in shares of PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company's stock worth $187,000 after acquiring an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in PACCAR by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company's stock valued at $9,399,000 after buying an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 0.6 %

PCAR stock opened at $118.16 on Monday. The company has a market cap of $61.92 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.79 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $114.94 and a 200-day simple moving average of $100.01. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.76 earnings per share. On average, equities research analysts expect that PACCAR Inc will post 8.16 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. PACCAR's dividend payout ratio is presently 12.31%.

Insider Activity

In other news, SVP Kevin D. Baney sold 7,203 shares of the firm's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Kevin D. Baney sold 7,203 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total transaction of $742,125.09. Following the transaction, the senior vice president now owns 6,621 shares of the company's stock, valued at $682,161.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last ninety days. Corporate insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Evercore ISI upped their target price on PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their target price on PACCAR from $93.00 to $106.00 and gave the company a "neutral" rating in a research note on Wednesday, January 24th. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They issued an "overweight" rating and a $125.00 target price on the stock. Truist Financial initiated coverage on PACCAR in a research note on Thursday, March 14th. They issued a "hold" rating and a $117.00 target price on the stock. Finally, Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $109.39.

Read Our Latest Report on PCAR

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.

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