Canada Pension Plan Investment Board increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 205.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 929,116 shares of the company's stock after buying an additional 624,457 shares during the period. Canada Pension Plan Investment Board owned about 0.18% of PACCAR worth $90,468,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PCAR. Brighton Jones LLC lifted its stake in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after acquiring an additional 290 shares during the period. Lido Advisors LLC increased its stake in PACCAR by 21.9% in the 4th quarter. Lido Advisors LLC now owns 13,008 shares of the company's stock valued at $1,391,000 after buying an additional 2,335 shares during the period. Schonfeld Strategic Advisors LLC grew its position in PACCAR by 82.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 28,159 shares of the company's stock worth $2,929,000 after acquiring an additional 12,711 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of PACCAR during the 4th quarter worth $7,545,000. Finally, AlTi Global Inc. bought a new stake in PACCAR in the 4th quarter valued at $31,549,000. 64.90% of the stock is owned by institutional investors and hedge funds.
PACCAR Stock Performance
Shares of NASDAQ:PCAR traded down $2.70 on Wednesday, hitting $96.16. The company had a trading volume of 1,493,702 shares, compared to its average volume of 2,844,314. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $98.06 and a 200 day moving average price of $96.49. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a market cap of $50.50 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 4.01 and a beta of 0.94.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the company posted $2.13 earnings per share. PACCAR's revenue was down 15.7% compared to the same quarter last year. Analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.
PACCAR Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is 22.60%.
Insider Buying and Selling
In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was 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 owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on PCAR shares. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada cut their price target 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. Finally, Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $107.68.
Check Out Our Latest Report on PCAR
PACCAR Company Profile
(
Free Report)
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.
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