Candriam S.C.A. Sells 3,528 Shares of PACCAR Inc. $PCAR

Key Points

• Candriam S.C.A. reduced its holdings in PACCAR Inc. by 8.5%, selling 3,528 shares and bringing its total ownership to 38,164 shares valued at approximately $3.7 million.
• Several institutional investors, including Vanguard Group and Wellington Management, have increased their stakes in PACCAR during the same period, with 64.90% of the stock now held by institutional investors.
• PACCAR's quarterly earnings exceeded expectations with $1.37 per share, though its revenue of $6.96 billion was below the analysts' estimate of $7.02 billion, marking a 15.7% decline compared to the previous year.

Candriam S.C.A. lessened its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,164 shares of the company's stock after selling 3,528 shares during the period. Candriam S.C.A.'s holdings in PACCAR were worth $3,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 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 worth $27,000 after purchasing an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of PACCAR during the first quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of PACCAR during the first quarter worth about $40,000. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. The trade was 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCAR shares. Truist Financial reduced their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. upped their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Argus upgraded 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Trading Down 1.0%

PCAR traded down $0.99 during trading on Monday, hitting $100.51. The company's stock had a trading volume of 2,333,680 shares, compared to its average volume of 2,423,486. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $97.02 and its 200-day moving average price is $96.64. The firm has a market capitalization of $52.78 billion, a P/E ratio of 17.21, a PEG ratio of 4.07 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping 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 company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. Analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. 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 is presently 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.