Public Sector Pension Investment Board Has $6.95 Million Stock Position in PACCAR Inc. $PCAR

Key Points

• Public Sector Pension Investment Board increased its stake in PACCAR Inc. by 8.7%, acquiring an additional 5,700 shares to hold a total of 71,369 shares valued at approximately $6.95 million.
• Insider trading activity saw CFO Brice J. Poplawski selling 5,000 shares, representing a 91.44% decrease in ownership, while CEO R Preston Feight sold 39,965 shares, a 15.19% reduction in his position.
• PACCAR reported earnings of $1.37 per share, beating estimates, but revenue was down 15.7% year-over-year, leading analysts to forecast an EPS of 7.57 for the current fiscal year.

Public Sector Pension Investment Board grew its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,369 shares of the company's stock after acquiring an additional 5,700 shares during the quarter. Public Sector Pension Investment Board's holdings in PACCAR were worth $6,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Farmers & Merchants Investments Inc. grew its stake in shares of PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after buying an additional 116 shares in the last quarter. RMR Wealth Builders boosted its holdings in PACCAR by 1.4% in the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after purchasing an additional 122 shares during the last quarter. Applied Capital LLC FL boosted its holdings in PACCAR by 0.5% in the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after purchasing an additional 130 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in PACCAR by 5.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after purchasing an additional 130 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Truist Financial reduced their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a report on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a report on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and increased their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Stock Performance

PCAR traded up $1.08 during trading hours on Tuesday, hitting $99.46. The company's stock had a trading volume of 2,064,225 shares, compared to its average volume of 2,885,084. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. 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 capitalization of $52.23 billion, a PE ratio of 17.03, a PEG ratio of 3.94 and a beta of 0.91. The company has a 50-day simple moving average of $96.42 and a 200 day simple moving average of $96.93.

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

PACCAR Dividend Announcement

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. 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 (DPR) is 22.60%.

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.