Kinsale Capital Group Inc. Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Kinsale Capital Group Inc. lifted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,794 shares of the company's stock after purchasing an additional 7,451 shares during the period. PACCAR comprises about 1.5% of Kinsale Capital Group Inc.'s portfolio, making the stock its 29th biggest holding. Kinsale Capital Group Inc.'s holdings in PACCAR were worth $5,012,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BDF Gestion acquired a new position in PACCAR during the second quarter worth $2,862,000. Mengis Capital Management Inc. raised its position in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company's stock worth $18,863,000 after acquiring an additional 5,433 shares during the period. Virtu Financial LLC purchased a new stake in shares of PACCAR during the first quarter worth $1,359,000. Comerica Bank grew its holdings in shares of PACCAR by 8.7% during the first quarter. Comerica Bank now owns 162,864 shares of the company's stock worth $20,177,000 after buying an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company's stock worth $2,552,000 after buying an additional 5,437 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI raised shares of PACCAR from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $99.00 to $129.00 in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PACCAR has a consensus rating of "Hold" and an average price target of $116.55.

Insider Transactions at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were 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 $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 2.4 %

PCAR stock traded down $2.80 during mid-day trading on Friday, hitting $112.26. 2,528,677 shares of the company were exchanged, compared to its average volume of 2,852,138. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $58.86 billion, a P/E ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89. The business has a fifty day simple moving average of $104.03 and a 200-day simple moving average of $102.80. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR's revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. On average, equities research analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. PACCAR's dividend payout ratio is presently 13.41%.

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.