PACCAR Inc. $PCAR Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in PACCAR Inc. by 9.2%, now holding 37,977 shares valued at approximately $3.7 million.
• PACCAR has received mixed ratings from analysts, with an average price target of $107.68 and indications of a 'Moderate Buy' rating.
• The company recently announced a quarterly dividend of $0.33, representing a 1.3% yield and a payout ratio of 22.60%.

OMERS ADMINISTRATION Corp grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,977 shares of the company's stock after purchasing an additional 3,191 shares during the period. OMERS ADMINISTRATION Corp's holdings in PACCAR were worth $3,698,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of PACCAR during the 1st quarter worth $29,000. Sunbelt Securities Inc. raised its stake in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares during the last quarter. Bayforest Capital Ltd raised its stake in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $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 during the 1st quarter worth $40,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCAR shares. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial cut their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Finally, Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the company's 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 transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Trading Down 2.6%

Shares of NASDAQ PCAR traded down $2.61 on Wednesday, reaching $96.26. 568,996 shares of the company traded hands, compared to its average volume of 2,838,362. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a 50 day moving average of $98.06 and a 200 day moving average of $96.49. 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 stock has a market capitalization of $50.54 billion, a PE ratio of 16.50, a P/E/G ratio of 4.01 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company posted $2.13 EPS. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR's dividend payout ratio is currently 22.60%.

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.