Caisse DE Depot ET Placement DU Quebec Purchases 12,736 Shares of PACCAR Inc. $PCAR

Key Points

• Caisse de Depot et Placement du Quebec increased its stake in PACCAR Inc. by 10.3% during the first quarter, bringing its total holdings to approximately $13.28 million.
• Several other institutional investors, including Vanguard Group and Wellington Management Group, also boosted their positions in PACCAR, reflecting strong interest in the stock.
• Despite reporting a 15.7% year-over-year decline in revenue, PACCAR beat earnings expectations for the quarter with earnings per share of $1.37, exceeding the analysts' estimate of $1.28.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,408 shares of the company's stock after purchasing an additional 12,736 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in PACCAR were worth $13,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of PACCAR in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares in the last quarter. Bayforest Capital Ltd increased its position 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 purchasing an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR in the 1st quarter valued at approximately $40,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Truist Financial reduced their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Stock Down 0.7%

Shares of PCAR stock traded down $0.70 on Monday, reaching $99.98. 2,225,815 shares of the company were exchanged, compared to its average volume of 2,130,235. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 4.01 and a beta of 0.94. The company has a 50-day moving average of $97.80 and a 200-day moving average of $96.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business's revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 EPS. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is 22.60%.

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.