National Pension Service Buys 142,977 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• The National Pension Service increased its holdings in PACCAR Inc. by 9.9%, owning a total of 1,590,669 shares worth $154.88 million after acquiring an additional 142,977 shares in the first quarter.
• PACCAR reported a quarterly earnings per share (EPS) of $1.37, surpassing analysts' estimates of $1.28, despite a 15.7% decrease in revenue compared to the same quarter last year.
• Analysts' ratings for PACCAR show a consensus of "Moderate Buy" with a target price of $107.77, reflecting a range of ratings from hold to strong buy.

National Pension Service boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,590,669 shares of the company's stock after purchasing an additional 142,977 shares during the quarter. National Pension Service owned about 0.30% of PACCAR worth $154,883,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC increased its holdings in shares of PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after acquiring an additional 2,041,168 shares in the last quarter. Nuveen LLC bought a new stake in shares of PACCAR during the first quarter valued at approximately $125,566,000. Vanguard Group Inc. increased its holdings in shares of PACCAR by 1.8% during the first 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. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after acquiring an additional 987,805 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PCAR stock traded down $1.47 during midday trading on Friday, hitting $98.22. The company's stock had a trading volume of 1,830,450 shares, compared to its average volume of 3,295,420. The stock's 50-day moving average price is $96.34 and its 200 day moving average price is $97.12. 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 Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a market cap of $51.58 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.94 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 18.25% and a net margin of 9.88%. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The business's revenue was down 15.7% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared 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 currently 22.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Vertical Research upgraded PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Evercore ISI cut their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.77.

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.