Caisse Des Depots ET Consignations Sells 29,697 Shares of PACCAR Inc. $PCAR

Key Points

• Caisse Des Depots ET Consignations cut its PACCAR stake by 80.3%, selling 29,697 shares and now holds 7,287 shares valued at about $798,000.
• Company insiders have been net sellers—111,664 shares were sold over the past three months (≈$14.24M), including sales by CFO Brice Poplawski and CEO R. Preston Feight; insiders now own 1.99% of PACCAR.
• PACCAR raised its quarterly dividend to $0.35 (from $0.33), an annualized $1.40 (≈1.2% yield), with record date May 13 and payment on June 3.

Caisse Des Depots ET Consignations lessened its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 80.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,287 shares of the company's stock after selling 29,697 shares during the period. Caisse Des Depots ET Consignations' holdings in PACCAR were worth $798,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in PACCAR in the 4th quarter worth $27,000. Camelot Portfolios LLC bought a new stake in shares of PACCAR during the 4th quarter valued at about $33,000. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $32,000. True Wealth Design LLC boosted its stake in shares of PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company's stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $38,000. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company's stock, valued at $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 9,258 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. The trade was a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 111,664 shares of company stock worth $14,244,394. Insiders own 1.99% of the company's stock.

PACCAR Trading Down 2.3%

NASDAQ:PCAR opened at $116.09 on Friday. PACCAR Inc. has a one year low of $88.35 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.79. The company's 50-day simple moving average is $120.92 and its 200 day simple moving average is $114.22. The firm has a market capitalization of $61.09 billion, a P/E ratio of 24.70, a PEG ratio of 1.10 and a beta of 1.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. PACCAR's quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 5.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This is an increase from PACCAR's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR's payout ratio is presently 28.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a "hold" rating in a research note on Wednesday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of PACCAR in a research note on Tuesday, February 24th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, BNP Paribas Exane assumed coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a "neutral" rating and a $126.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $117.83.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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