Kinsale Capital Group Inc. Purchases 7,451 Shares of PACCAR Inc (NASDAQ:PCAR)

Kinsale Capital Group Inc. grew its position in PACCAR Inc (NASDAQ:PCAR) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,794 shares of the company’s stock after purchasing an additional 7,451 shares during the period. PACCAR comprises about 1.5% of Kinsale Capital Group Inc.’s portfolio, making the stock its 29th largest position. Kinsale Capital Group Inc.’s holdings in PACCAR were worth $5,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Natixis Advisors LLC lifted its holdings in shares of PACCAR by 23.3% during the 3rd quarter. Natixis Advisors LLC now owns 863,184 shares of the company’s stock valued at $85,179,000 after purchasing an additional 163,192 shares in the last quarter. KCM Investment Advisors LLC acquired a new stake in PACCAR during the 3rd quarter worth approximately $282,000. Empirical Finance LLC lifted its stake in PACCAR by 2.1% in the third quarter. Empirical Finance LLC now owns 17,996 shares of the company’s stock valued at $1,776,000 after buying an additional 371 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of PACCAR by 5.7% in the third quarter. CIBC Asset Management Inc now owns 162,583 shares of the company’s stock valued at $16,044,000 after buying an additional 8,834 shares during the period. Finally, Intellectus Partners LLC increased its position in shares of PACCAR by 5.1% during the third quarter. Intellectus Partners LLC now owns 10,723 shares of the company’s stock worth $1,058,000 after acquiring an additional 522 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.55.

PACCAR Trading Down 2.4 %

NASDAQ PCAR opened at $112.26 on Friday. The company has a market cap of $58.86 billion, a PE ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a 50 day moving average of $104.03 and a 200-day moving average of $102.80. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.34 earnings per share. On average, equities research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Profile

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.