Freestone Capital Holdings LLC Has $14.22 Million Stake in PACCAR Inc (PCAR)

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Freestone Capital Holdings LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 255.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 208,741 shares of the company’s stock after purchasing an additional 150,024 shares during the quarter. PACCAR accounts for about 0.8% of Freestone Capital Holdings LLC’s holdings, making the stock its 27th biggest holding. Freestone Capital Holdings LLC’s holdings in PACCAR were worth $14,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCAR. Truvestments Capital LLC acquired a new position in shares of PACCAR during the first quarter valued at $42,000. Berman Capital Advisors LLC acquired a new stake in PACCAR in the fourth quarter worth about $43,000. Lindbrook Capital LLC acquired a new stake in PACCAR in the fourth quarter worth about $47,000. Quadrant Capital Group LLC lifted its holdings in PACCAR by 45.6% in the first quarter. Quadrant Capital Group LLC now owns 913 shares of the company’s stock worth $56,000 after purchasing an additional 286 shares during the period. Finally, American Research & Management Co. acquired a new stake in PACCAR in the first quarter worth about $68,000. 61.15% of the stock is owned by institutional investors.

Shares of NASDAQ PCAR opened at $68.18 on Thursday. The company has a market capitalization of $24.30 billion, a P/E ratio of 10.93, a PEG ratio of 1.25 and a beta of 1.24. PACCAR Inc has a 52 week low of $53.43 and a 52 week high of $73.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR Inc will post 6.71 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.32 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.88%. PACCAR’s payout ratio is 20.51%.

Several brokerages have commented on PCAR. Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets boosted their price objective on PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. BidaskClub downgraded PACCAR from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Longbow Research downgraded PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price objective on the stock. in a report on Monday, May 6th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $66.24.

In related news, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the transaction, the vice president now directly owns 8,401 shares in the company, valued at $581,097.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darrin C. Siver sold 5,067 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total value of $355,196.70. Following the completion of the transaction, the insider now owns 23,193 shares of the company’s stock, valued at $1,625,829.30. The disclosure for this sale can be found here. Insiders sold 22,301 shares of company stock valued at $1,554,065 over the last 90 days. 2.32% of the stock is currently owned by corporate insiders.

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About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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