Wealth Enhancement Advisory Services LLC Has $35.72 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,975 shares of the company’s stock after selling 4,936 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of PACCAR worth $35,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Fisher Asset Management LLC increased its stake in shares of PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares during the last quarter. Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at approximately $448,288,000. Capital International Investors lifted its holdings in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PACCAR by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after purchasing an additional 54,273 shares during the period. Finally, First Trust Advisors LP raised its stake in PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after buying an additional 23,394 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 1.7 %

Shares of NASDAQ PCAR traded up $1.57 during mid-day trading on Wednesday, reaching $94.25. The company had a trading volume of 810,281 shares, compared to its average volume of 2,652,608. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The business’s 50-day moving average is $102.26 and its 200-day moving average is $108.48. The stock has a market cap of $49.40 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 earnings per share. Equities analysts expect that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. PACCAR’s payout ratio is 12.45%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several analyst reports. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial reduced their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $112.91.

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.