KBC Group NV Sells 147,651 Shares of PACCAR Inc. $PCAR

Key Points

• KBC Group NV reduced its stake in PACCAR by 36.5%, selling 147,651 shares in Q4 and retaining 256,381 shares valued at about $28.08 million.
• Company insiders sold a combined 133,105 shares last quarter (including EVP C. Michael Dozier's 79,076-share sale), totaling roughly $16.9 million; insiders own 1.99% of the stock while institutions hold 64.90%.
• PACCAR reported $1.06 EPS (in line with estimates) and revenue of $6.82 billion (above expectations but down 15.1% YoY); analysts' consensus rating is "Hold" with an average target of $117.42.

KBC Group NV decreased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 256,381 shares of the company's stock after selling 147,651 shares during the period. KBC Group NV's holdings in PACCAR were worth $28,076,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Jackson Square Capital LLC raised its position in PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock worth $290,000 after acquiring an additional 90 shares during the period. First Pacific Financial raised its position in PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company's stock worth $116,000 after acquiring an additional 106 shares during the period. Fulton Bank N.A. raised its position in PACCAR by 3.2% in the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company's stock worth $379,000 after acquiring an additional 107 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company's stock worth $358,000 after purchasing an additional 108 shares in the last quarter. Finally, Matrix Trust Co increased its stake in shares of PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company's stock worth $290,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

PCAR stock opened at $126.25 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The stock has a market cap of $66.44 billion, a PE ratio of 27.99, a P/E/G ratio of 1.04 and a beta of 1.06. The firm has a 50 day simple moving average of $121.35 and a two-hundred day simple moving average of $112.52.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts' consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.06 billion. During the same quarter in the previous year, the company earned $1.66 EPS. The business's quarterly revenue was down 15.1% compared to the same quarter last year. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president owned 34,656 shares of the company's stock, valued at $4,433,195.52. The trade was a 69.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the transaction, the vice president directly owned 6,274 shares of the company's stock, valued at approximately $768,125.82. This represents a 66.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Truist Financial lifted their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. BNP Paribas Exane initiated coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 target price for the company. Finally, Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $117.42.

PACCAR Profile

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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