Robeco Institutional Asset Management B.V. Sells 108,014 Shares of PACCAR Inc. $PCAR

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in PACCAR Inc. by 45.6%, selling 108,014 shares, which left it with 128,661 shares valued at approximately $12.2 million.
• Several large investors have increased their positions in PACCAR, with E Fund Management growing its stake by 666.7% during the first quarter of the year.
• PACCAR announced a quarterly dividend of $0.33 per share, to be distributed on December 3rd, reflecting a 1.3% dividend yield.

Robeco Institutional Asset Management B.V. lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 45.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 128,661 shares of the company's stock after selling 108,014 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in PACCAR were worth $12,231,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR during the first quarter worth about $29,000. Bayforest Capital Ltd grew its position 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 period. Accent Capital Management LLC bought a new stake in shares of PACCAR in the 1st quarter valued at about $40,000. Finally, JFS Wealth Advisors LLC raised its position in shares of PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PCAR. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Truist Financial decreased their target price on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of PACCAR in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.68.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the company'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 transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $98.09 on Monday. 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 business's 50 day moving average price is $99.03 and its two-hundred day moving average price is $95.60. The company has a market cap of $51.51 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. 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 issued its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend 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.

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