Proficio Capital Partners LLC Invests $215,000 in PACCAR Inc (NASDAQ:PCAR)

Proficio Capital Partners LLC acquired a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 214,528 shares of the company's stock, valued at approximately $215,000.

A number of other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in PACCAR by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 83,058 shares of the company's stock valued at $8,640,000 after buying an additional 3,573 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of PACCAR by 1.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 206,619 shares of the company's stock valued at $21,493,000 after acquiring an additional 3,700 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of PACCAR by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 70,284 shares of the company's stock valued at $7,311,000 after acquiring an additional 558 shares in the last quarter. Nwam LLC boosted its position in PACCAR by 1.6% during the 4th quarter. Nwam LLC now owns 46,164 shares of the company's stock worth $4,802,000 after purchasing an additional 722 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in PACCAR by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 44,957 shares of the company's stock valued at $4,676,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

PCAR opened at $102.33 on Thursday. The company has a market capitalization of $53.70 billion, a P/E ratio of 12.94, a PEG ratio of 2.77 and a beta of 0.91. The company has a 50-day moving average of $107.39 and a 200-day moving average of $106.29. 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 1-year low of $90.04 and a 1-year high of $125.50.

Remove Ads

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's payout ratio is 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $121.77.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.