PFA Pension Forsikringsaktieselskab Takes $61.55 Million Position in PACCAR Inc. $PCAR

Key Points

• PFA Pension established a new Q4 position in PACCAR of 554,694 shares worth about $61.55 million, equal to roughly 0.11% of the company.
• Company insiders sharply reduced holdings: EVP C. Michael Dozier sold 79,076 shares (≈$10.1M) and insiders disposed of 111,664 shares totaling about $14.24 million in the last quarter.
• PACCAR raised its quarterly dividend to $0.35 (annualized $1.40, ~1.2% yield), while analysts hold a consensus "Hold" rating with an average target price of $117.83.

PFA Pension Forsikringsaktieselskab acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 554,694 shares of the company's stock, valued at approximately $61,549,000. PFA Pension Forsikringsaktieselskab owned 0.11% of PACCAR as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Square Capital LLC lifted its holdings in shares of PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock worth $290,000 after acquiring an additional 90 shares during the last quarter. Lakeside Advisors INC. lifted its holdings in shares of PACCAR by 0.3% in the fourth quarter. Lakeside Advisors INC. now owns 34,053 shares of the company's stock worth $3,729,000 after acquiring an additional 92 shares during the last quarter. First Pacific Financial lifted its holdings in shares of PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company's stock worth $116,000 after acquiring an additional 106 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of PACCAR by 3.2% in the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company's stock worth $379,000 after acquiring an additional 107 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company's stock worth $358,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an "equal weight" rating in a research note on Wednesday. BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on PACCAR from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Truist Financial upped their price objective on PACCAR from $120.00 to $126.00 and gave the company a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $117.83.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company's stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP C Michael Dozier sold 79,076 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares of the company's stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 111,664 shares of company stock worth $14,244,394. Corporate insiders own 1.99% of the company's stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $116.09 on Friday. The company has a market capitalization of $61.09 billion, a PE ratio of 24.70, a P/E/G ratio of 1.08 and a beta of 1.02. The company has a 50 day simple moving average of $120.92 and a two-hundred day simple moving average of $114.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.79 and a current ratio of 3.11. PACCAR Inc. has a fifty-two week low of $88.35 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts' consensus estimates of $1.15. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Research analysts anticipate that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is a boost from PACCAR's previous quarterly dividend of $0.33. PACCAR's payout ratio is currently 28.09%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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