BlackRock Fund Advisors recently announced the acquisition of new stake in Paccar Inc. (NASDAQ:PCAR). The institutional investor has increased its shareholding in the Industrials company by 0.63% to 25.15 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 4.81% valued currently at $2.46 billion. In addition, Geode Capital Management LLC raised its holdings by 0.26 million to 12.37 million shares. And Massachusetts Financial Services has lifted its position by 0.28% or 23865.0 shares – to 8.59 million shares.
Currently, there are 523.30M common shares owned by the public and among those 513.74M shares have been available to trade.
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Insiders at the company have transacted a total of 83 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 56 of these insider trades were purchases, accounting for 484,286 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 413,344 shares.
The top 3 mutual fund holders in Paccar Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 16.42 million shares of the company’s stock, all valued at over $1.6 billion. The company bought an additional 34329.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 28447.0 shares to see its total holdings expand to 12.77 million shares valued at over $1.25 billion and representing 2.44% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.16 million shares to bring its total holdings to over 11.72 million shares at a value of $1.14 billion. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 101.31, up 4.04%. The company’s stock has a 5-day price change of 7.40% and 27.99% over the past three months. PCAR shares are trading 3.44% year to date (YTD), with the 12-month market performance up to 57.91% higher. It has a 12-month low price of $63.88 and touched a high of $98.20 over the same period. PCAR has an average intraday trading volume of 2.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.49%, 9.20%, and 23.80% respectively.
Institutional ownership of Paccar Inc. (NASDAQ: PCAR) shares accounts for 66.16% of the company’s 523.30M shares outstanding. Mutual fund holders own 38.57%, while other institutional holders and individual stakeholders account for 5.95% and 27.91% respectively.
It has a market capitalization of $52.84B and a beta (3y monthly) value of 0.90. The stock’s trailing 12-month PE ratio is 11.52, while the earnings-per-share (ttm) stands at $8.77. The company has a PEG of 1.70 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.38% over the week and 1.58% over the month.
Analysts forecast that Paccar Inc. (PCAR) will achieve an EPS of $2.22 for the current quarter, $2.1 for the next quarter and $7.61 for 2024. The lowest estimate earnings-per-share for the quarter is $1.87 while analysts give the company a high EPS estimate of $2.33. Comparatively, EPS for the current quarter was $1.76 a year ago. Earnings per share for the fiscal year are expected to decrease by -19.07%, and 7.95% over the next financial year. EPS should shrink at an annualized rate of 6.76% over the next five years, compared to 16.06% over the past 5-year period.
Looking at the support for the PCAR, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on January 19, 2024, with the firm’s price target at $84-$97.
