Banco Santander S.A. Has $7.21 Million Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Banco Santander S.A. significantly increased its stake in PACCAR Inc. by 2,681.2% in the first quarter, holding a total of 74,007 shares valued at approximately $7.21 million.
• PACCAR reported a net margin of 9.88% and an earnings per share (EPS) of $1.37 for the last quarter, surpassing the consensus estimate.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 1.4%, with the payment set for September 4th.

Banco Santander S.A. boosted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2,681.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,007 shares of the company's stock after purchasing an additional 71,346 shares during the period. Banco Santander S.A.'s holdings in PACCAR were worth $7,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in PACCAR during the first quarter valued at $29,000. Sunbelt Securities Inc. raised its stake in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the period. Bayforest Capital Ltd grew its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position in PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after buying an additional 174 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

PACCAR Trading Down 0.5%

PACCAR stock traded down $0.51 during trading on Wednesday, reaching $97.69. The company had a trading volume of 324,957 shares, compared to its average volume of 2,934,065. The firm has a market capitalization of $51.30 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.84 and a beta of 0.91. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The stock's 50 day moving average price is $95.54 and its two-hundred day moving average price is $97.76.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's payout ratio is currently 22.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCAR. Royal Bank Of Canada dropped their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a report on Monday, July 28th. Finally, Truist Financial reduced their target price on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, PACCAR has an average rating of "Moderate Buy" and an average target price of $107.77.

PACCAR Company 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.