PACCAR Inc. (NASDAQ:PCAR) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in PACCAR Inc. by 15.5%, selling 7,703 shares and owning 41,989 shares worth approximately $4,088,000 as of the end of the 1st quarter.
• Corporate insiders, including CFO Brice J. Poplawski and CEO R Preston Feight, have both sold significant shares, with Poplawski reducing his position by 91.44% and Feight by 15.19%.
• Analysts have mixed views on PACCAR, with some, like UBS Group, upgrading the stock to a "neutral" rating, while others, such as Morgan Stanley, downgraded it to "equal weight", affecting target prices across the board.

Mizuho Securities USA LLC decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,989 shares of the company's stock after selling 7,703 shares during the quarter. Mizuho Securities USA LLC's holdings in PACCAR were worth $4,088,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PCAR. Vanguard Group Inc. grew its stake in PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after acquiring an additional 1,113,520 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. Northern Trust Corp grew its position in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after purchasing an additional 565,967 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PACCAR by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,006,859 shares of the company's stock valued at $624,836,000 after purchasing an additional 313,292 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after buying an additional 4,219,964 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

PCAR traded up $1.71 during trading on Wednesday, hitting $100.66. 2,504,070 shares of the stock were exchanged, compared to its average volume of 2,905,286. The firm has a market capitalization of $52.86 billion, a P/E ratio of 17.24, a PEG ratio of 3.90 and a beta of 0.91. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a fifty day moving average price of $95.94 and a two-hundred day moving average price of $97.33. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm posted $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business 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 dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is currently 22.60%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 468 shares in the company, valued at approximately $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 currently owned by insiders.

Analysts Set New Price Targets

PCAR has been the topic of several analyst reports. Citigroup lifted their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research report on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.77.

About PACCAR

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.