PACCAR Inc. $PCAR Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has reduced its holdings in PACCAR Inc. by 94% during the first quarter, now owning only 10,414 shares valued at approximately $1,014,000.
• PACCAR reported a net margin of 9.88% and just topped EPS estimates in its latest quarterly earnings, but its revenue decreased by 15.7% compared to the previous year.
• The company announced a quarterly dividend of $0.33 per share, representing a yield of 1.4% and a payout ratio of 22.60%.

Nomura Holdings Inc. lessened its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 94.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,414 shares of the company's stock after selling 162,820 shares during the period. Nomura Holdings Inc.'s holdings in PACCAR were worth $1,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. raised its stake in 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 acquiring an additional 240 shares during the period. Alpine Bank Wealth Management bought a new stake in PACCAR during the 1st quarter worth about $29,000. Sunbelt Securities Inc. boosted its holdings in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. Bayforest Capital Ltd lifted its position in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after buying an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of PACCAR in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 1.6%

PCAR traded down $1.54 during trading on Monday, hitting $97.51. 968,386 shares of the company's stock were exchanged, compared to its average volume of 2,827,716. The stock has a 50 day moving average price of $98.25 and a 200 day moving average price of $96.23. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $51.20 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 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 firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the business earned $2.13 earnings per share. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's payout ratio is presently 22.60%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCAR. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, July 28th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup upped 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. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.68.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the business'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 completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The stock was 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 represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

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.