Moss Adams Wealth Advisors LLC Decreases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Moss Adams Wealth Advisors LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 52.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,278 shares of the company’s stock after selling 2,488 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in PACCAR were worth $224,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of PACCAR by 29.1% in the third quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock worth $6,769,000 after purchasing an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of PACCAR by 15.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock worth $7,708,000 after buying an additional 12,451 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of PACCAR by 19.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,372 shares of the company’s stock valued at $287,000 after buying an additional 538 shares during the period. Lindbrook Capital LLC raised its holdings in shares of PACCAR by 33.8% during the third quarter. Lindbrook Capital LLC now owns 1,951 shares of the company’s stock valued at $166,000 after acquiring an additional 493 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PACCAR by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 201,930 shares of the company’s stock worth $17,168,000 after acquiring an additional 14,409 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold a total of 43,920 shares of company stock valued at $4,650,324 in the last 90 days. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PCAR shares. Truist Financial reissued a “hold” rating and set a $121.00 price target (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Stock Performance

PACCAR stock traded up $0.45 during midday trading on Wednesday, reaching $107.05. 2,887,766 shares of the company traded hands, compared to its average volume of 2,462,551. The firm has a market capitalization of $56.11 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The business has a 50 day moving average of $116.18 and a two-hundred day moving average of $103.12.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 EPS. As a group, research analysts predict that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

About PACCAR

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.