Robeco Institutional Asset Management B.V. Sells 230,338 Shares of PACCAR Inc (NASDAQ:PCAR)

Robeco Institutional Asset Management B.V. lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 44.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 283,701 shares of the company’s stock after selling 230,338 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in PACCAR were worth $29,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP acquired a new stake in PACCAR in the 2nd quarter valued at approximately $26,000. Grove Bank & Trust grew its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Sander Capital Advisors Inc. acquired a new stake in shares of PACCAR in the third quarter valued at approximately $50,000. Ashton Thomas Securities LLC bought a new stake in shares of PACCAR in the third quarter worth $52,000. Finally, AdvisorNet Financial Inc boosted its holdings in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Morgan Stanley decreased their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

PACCAR Stock Performance

Shares of PCAR stock opened at $112.51 on Friday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a market capitalization of $58.99 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.77 and a beta of 0.93. The company has a 50-day simple moving average of $110.47 and a 200 day simple moving average of $104.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. On average, sell-side analysts predict that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.