BlackRock Fund Advisors has recently announced that it has increased stake in Paccar Inc. (NASDAQ:PCAR) by 0.63%. After grabbing 25.15 million shares, the institutional investor is now in possession of 0.16 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.81% having worth around $2.08 billion. Moreover, Geode Capital Management LLC increased its share by 0.26 million to have a control over 12.37 million shares. And Massachusetts Financial Services raised its holdings to 23865.0 shares by acquiring 8.59 million shares or 1.64% of the stake.
Paccar Inc. (PCAR) concluded trading on 12/14/23 at a closing price of $95.81, with 4.21 million shares of worth about $403.63 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 25.24% during that period and on Thursday the price saw a gain of about 1.00%. Currently the company’s common shares owned by public are about 522.00M shares, out of which, 513.75M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 106 times over the past 12 months. They bought 543,464 shares in 72 of the transactions. In 34 selling transactions, insiders dumped 444,938 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Paccar Inc. Vanguard Total Stock Market ETF is currently holding 16.36 million shares of worth totaling $1.35 billion. The company recently came buying 86335.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 61418.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 12.63 million shares with the mutual fund that have a worth of about $1.04 billion. Vanguard Mid Cap Index Fund, after buying 11.87 million shares, have now control over 2.27% of the stake in the company. It holds 28152.0 shares of worth $979.66 million.
However, the stock later moved at a day high price of 96.13, or with a gain of 1.00%. Stock saw a price change of 3.69% in past 5 days and over the past one month there was a price change of 9.23%. Year-to-date (YTD), PCAR shares are showing a performance of 50.11% which increased to 49.41% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $62.23 but also hit the highest price of $95.26 during that period. The average intraday trading volume for Paccar Inc. shares is 2.29 million. The stock is currently trading 6.21% above its 20-day simple moving average (SMA20), while that difference is up 11.94% for SMA50 and it goes to 22.26% higher than SMA200.
BlackRock Fund Advisors acquired 25.15 million shares of Paccar Inc. having value of about $2.08 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.16 million shares in the company valued at close to $15116231.13, or have control over 0.63% stake in the company. Paccar Inc. (NASDAQ: PCAR) currently have 522.00M outstanding shares and institutions hold larger chunk of about 66.13% of that. Holding of mutual funds in the company is about 38.16% while other institutional holders and individual stake holders have control over 5.94% and 28.28% of the stake respectively.
The stock has a current market capitalization of $50.12B and its 3Y-monthly beta is at 0.92. PE ratio of stock for trailing 12 months is 12.25, while it has posted earnings per share of $7.82 in the same period. Its PEG reads 1.81 and has Quick Ratio of 1.69 while making debt-to-equity ratio of 0.81. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PCAR, volatility over the week remained 1.54% while standing at 1.44% over the month.
Analysts are in expectations that Paccar Inc. (PCAR) stock would likely to be making an EPS of $2.21 in the current quarter, while forecast for next quarter EPS is $2.08 and it is $7.47 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.87 which is $2.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.76 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 57.64% while it is estimated to decrease by -17.21% in next year. EPS is likely to shrink at an annualized rate of 6.76% for next 5-years, compared to annual growth of 12.70% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on October 25, 2023 offering a Buy rating for the stock and assigned a target price range of between $94 and $115 to it.
