Mackenzie Financial Corp Increases Position in PACCAR Inc (NASDAQ:PCAR)

Mackenzie Financial Corp increased its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,219 shares of the company's stock after buying an additional 4,703 shares during the quarter. Mackenzie Financial Corp's holdings in PACCAR were worth $8,448,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PCAR. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new stake in PACCAR in the fourth quarter valued at $37,000. Sunbelt Securities Inc. grew its position in 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 purchasing an additional 350 shares during the period. Kestra Investment Management LLC acquired a new stake in PACCAR during the 4th quarter worth about $37,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter valued at about $43,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PACCAR stock traded up $0.24 during trading on Thursday, reaching $94.29. The company had a trading volume of 1,598,133 shares, compared to its average volume of 2,768,929. The firm has a market capitalization of $49.50 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm's 50-day simple moving average is $92.56 and its 200 day simple moving average is $103.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. 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 announced its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.27 EPS. As a group, equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on PCAR shares. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research note on Wednesday, April 16th. Royal Bank of Canada lowered their price objective 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. Evercore ISI dropped their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $104.14.

Insider Buying and Selling at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.02% of the company's stock.

PACCAR 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.