Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Position in PACCAR Inc. $PCAR

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in PACCAR Inc. by 25.0%, now owning 80,261 shares worth approximately $7.8 million.
• PACCAR reported earnings of $1.37 per share for the last quarter, exceeding analysts' estimates, although revenue declined by 15.7% year-over-year.
• The company has declared a quarterly dividend of $0.33 per share, set to be paid on September 4th, reflecting an annual yield of 1.3%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 25.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 80,261 shares of the company's stock after selling 26,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in PACCAR were worth $7,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock valued at $77,404,000 after purchasing an additional 104,281 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after acquiring an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after acquiring an additional 4,429 shares during the period. Moran Wealth Management LLC raised its holdings in shares of PACCAR by 28.8% during the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after acquiring an additional 52,525 shares during the period. Finally, Stack Financial Management Inc purchased a new position in shares of PACCAR during the 1st quarter worth $20,585,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In other PACCAR 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 approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer 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. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. Royal Bank Of Canada reduced their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Citigroup lifted 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. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Finally, Truist Financial cut their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

PACCAR Trading Down 1.5%

NASDAQ PCAR traded down $1.47 during trading on Friday, hitting $98.22. The stock had a trading volume of 1,830,450 shares, compared to its average volume of 3,201,761. The company has a market capitalization of $51.58 billion, a PE ratio of 16.82, a PEG ratio of 3.94 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $96.34 and a 200 day moving average price of $97.01. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share 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 company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the company posted $2.13 EPS. PACCAR's revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR's payout ratio is presently 22.60%.

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.