Is PACCAR Inc (PCAR) A Good Stock To Buy?

As aggregate interest increased, specific money managers were breaking ground themselves. Two Sigma Advisors, managed by John Overdeck and David Siegel, established a position in PACCAR Inc (NASDAQ:PCAR). Two Sigma Advisors had $29.7 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $12.2 million position during the quarter. The following funds were also among the new PCAR investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, George Hall’s Clinton Group, and Tom Gayner’s Markel Gayner Asset Management.

Let’s now review hedge fund activity in other stocks similar to PACCAR Inc (NASDAQ:PCAR). These stocks are Western Digital Corp. (NASDAQ:WDC), Twitter Inc (NYSE:TWTR), Boston Properties, Inc. (NYSE:BXP), and Sasol Limited (ADR) (NYSE:SSL). All of these stocks’ market caps are closest to PCAR’s market cap.

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $794 million. That figure was $451 million in PCAR’s case. Western Digital Corp. (NASDAQ:WDC) is the most popular stock in this table. On the other hand, Sasol Limited (ADR) (NYSE:SSL) is the least popular one with only 10 bullish hedge fund positions. PACCAR Inc (NASDAQ:PCAR) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are collectively most bullish on. In this regard, WDC might be a better alternative.