Envestnet Portfolio Solutions Inc. Trims Position in PACCAR Inc (NASDAQ:PCAR)

Envestnet Portfolio Solutions Inc. lowered its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,455 shares of the company's stock after selling 2,660 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PACCAR were worth $2,336,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. OFI Invest Asset Management bought a new stake in shares of PACCAR in the 4th quarter worth approximately $43,000. Atala Financial Inc bought a new position in shares of PACCAR during the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR in the fourth quarter worth $44,000. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.6 %

PACCAR stock traded up $0.60 during mid-day trading on Tuesday, reaching $99.24. The stock had a trading volume of 1,956,717 shares, compared to its average volume of 2,528,810. The company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a 50-day moving average price of $106.10 and a two-hundred day moving average price of $106.60.

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PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly 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 net margin of 12.36% and a return on equity of 23.53%. On average, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.33%. This is an increase from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred 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 completion of the sale, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCAR. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Melius Research upgraded PACCAR to a "strong-buy" rating in a report on Tuesday, March 18th. Finally, Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.