PACCAR Inc. (NASDAQ:PCAR) Shares Purchased by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in PACCAR Inc. by 41.3% during the first quarter, bringing its total ownership to approximately 0.09% of the company, valued at $46.3 million.
• Several hedge funds have recently modified their holdings in PACCAR, with over 64.9% of the company's stock currently owned by institutional investors.
• PACCAR's recent earnings report showed a 15.7% decline in revenue year-over-year, though it exceeded EPS estimates at $1.37 per share against expectations of $1.28.

National Bank of Canada FI lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 41.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 475,341 shares of the company's stock after acquiring an additional 138,937 shares during the quarter. National Bank of Canada FI owned 0.09% of PACCAR worth $46,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PCAR. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% during the fourth 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. Raymond James Financial Inc. purchased a new position in PACCAR in the fourth quarter valued at $30,440,000. Bessemer Group Inc. increased its holdings in PACCAR by 0.9% in the fourth quarter. Bessemer Group Inc. now owns 36,438 shares of the company's stock valued at $3,791,000 after buying an additional 337 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in PACCAR by 4.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 16,577 shares of the company's stock valued at $1,731,000 after buying an additional 764 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in PACCAR by 1.8% in the fourth quarter. Townsquare Capital LLC now owns 11,332 shares of the company's stock valued at $1,179,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR traded down $1.63 during mid-day trading on Thursday, hitting $99.03. 773,478 shares of the company's stock were exchanged, compared to its average volume of 2,900,158. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market capitalization of $52.00 billion, a P/E ratio of 16.98, a P/E/G ratio of 3.97 and a beta of 0.91. The business's 50 day moving average is $96.10 and its two-hundred day moving average is $97.35. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share 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 business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The business's quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio is 22.60%.

Analysts Set New Price Targets

Several research firms recently commented on PCAR. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and increased their target price for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Argus raised 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. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Truist Financial dropped their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.77.

Insider Activity

In other 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 transaction of $3,977,316.80. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated 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 approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

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.