BlueMountain Capital Management LLC Purchases New Position in PACCAR Inc. (PCAR)

BlueMountain Capital Management LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 41,957 shares of the company’s stock, valued at approximately $2,771,000.

Several other institutional investors have also made changes to their positions in the stock. Davis Selected Advisers increased its stake in shares of PACCAR by 0.4% in the 2nd quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock valued at $208,000 after purchasing an additional 12 shares in the last quarter. Conning Inc. increased its stake in shares of PACCAR by 0.4% in the 2nd quarter. Conning Inc. now owns 10,691 shares of the company’s stock valued at $706,000 after purchasing an additional 39 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of PACCAR by 1.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock valued at $247,000 after purchasing an additional 46 shares in the last quarter. Atlantic Trust Group LLC increased its stake in shares of PACCAR by 0.6% in the 2nd quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock valued at $810,000 after purchasing an additional 68 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of PACCAR by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock valued at $1,724,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 62.69% of the company’s stock.

Several equities analysts recently weighed in on the company. Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. ValuEngine upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Stifel Nicolaus restated a “hold” rating and issued a $72.00 price target on shares of PACCAR in a research note on Tuesday, September 5th. Buckingham Research assumed coverage on PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Royal Bank Of Canada restated a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.74.

In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.64% of the company’s stock.

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PACCAR Inc. (NASDAQ:PCAR) opened at 69.92 on Friday. The stock’s 50 day moving average price is $66.25 and its 200 day moving average price is $66.12. The firm has a market capitalization of $24.57 billion, a PE ratio of 18.72 and a beta of 1.15. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period last year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that PACCAR Inc. will post $4.00 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. PACCAR’s dividend payout ratio (DPR) is presently 26.74%.

PACCAR Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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