Robeco Institutional Asset Management B.V. Sells 26,852 Shares of PACCAR Inc. $PCAR

Key Points

• Robeco Institutional trimmed its PACCAR stake by 11.7% in Q4, selling 26,852 shares and leaving it with 202,094 shares valued at about $22.13 million.
• Notable insider selling occurred recently: EVP Kevin Baney sold 9,672 shares and CFO Brice Poplawski sold 2,200, with insiders offloading 133,105 shares (~$16.87M) in the last quarter.
• Analysts hold a consensus Hold rating with a $117.42 target; PACCAR has a $66.0B market cap, its latest quarter beat revenue estimates but revenue fell 15.1% year-over-year and EPS matched forecasts.

Robeco Institutional Asset Management B.V. reduced its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 202,094 shares of the company's stock after selling 26,852 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in PACCAR were worth $22,131,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in shares of PACCAR by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company's stock worth $105,725,000 after acquiring an additional 9,045 shares during the last quarter. National Pension Service lifted its holdings in shares of PACCAR by 5.5% during the 3rd quarter. National Pension Service now owns 939,146 shares of the company's stock worth $92,337,000 after acquiring an additional 48,711 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of PACCAR by 29.1% during the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company's stock worth $3,893,000 after acquiring an additional 8,932 shares during the last quarter. Vanguard Group Inc. lifted its stake in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company's stock worth $6,205,117,000 after purchasing an additional 485,678 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company's stock valued at $13,487,000 after buying an additional 13,668 shares during the period. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PCAR shares. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Citigroup boosted their price objective on PACCAR from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday. Truist Financial raised their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, January 28th. Finally, BNP Paribas Exane began coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $117.42.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $125.43 on Wednesday. The company has a market cap of $66.01 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The company has a 50-day moving average price of $121.54 and a 200-day moving average price of $112.17. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company's quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Activity

In other news, EVP Kevin D. Baney sold 9,672 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the completion of the transaction, the executive vice president directly owned 12,592 shares of the company's stock, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 2,200 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the transaction, the chief financial officer directly owned 903 shares of the company's stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 133,105 shares of company stock valued at $16,869,046. 1.99% of the stock is owned by corporate insiders.

PACCAR 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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