Victory Capital Management Inc. Has $108.56 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Victory Capital Management Inc. cut its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,043,649 shares of the company's stock after selling 36,317 shares during the period. Victory Capital Management Inc. owned approximately 0.20% of PACCAR worth $108,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new stake in shares of PACCAR during the fourth quarter worth $1,984,000. Sanctuary Advisors LLC raised its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock valued at $2,962,000 after buying an additional 5,871 shares during the period. 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 valued at $18,863,000 after buying an additional 5,433 shares during the period. Insight Wealth Strategies LLC raised its position in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after buying an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC raised its position in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after buying an additional 89,245 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

PCAR opened at $102.97 on Thursday. The company has a market cap of $54.04 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The stock has a 50-day moving average of $107.13 and a 200-day moving average of $105.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. 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 (NASDAQ:PCAR - Get Free Report) last posted 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 return on equity of 23.53% and a net margin of 12.36%. As a group, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is currently 16.69%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average target price of $121.77.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company's stock, 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 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.

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.

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.