USS Investment Management Ltd Lowers Stake in PACCAR Inc. $PCAR

Key Points

• USS Investment Management Ltd reduced its stake in PACCAR Inc. by 39.6% in Q1, holding 55,543 shares valued at approximately $5.41 million after selling 36,400 shares.
• PACCAR's CFO sold 5,000 shares in July, representing a 91.44% decrease in their ownership, while the CEO sold 39,965 shares, a 15.19% decrease in their stake.
• The company reported Q2 earnings of $1.37 per share, exceeding expectations, but revenue declined by 15.7% year-over-year at $6.96 billion.

USS Investment Management Ltd trimmed its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 39.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,543 shares of the company's stock after selling 36,400 shares during the quarter. USS Investment Management Ltd's holdings in PACCAR were worth $5,409,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd increased its stake in PACCAR by 6.1% during the first quarter. UniSuper Management Pty Ltd now owns 41,321 shares of the company's stock worth $4,023,000 after acquiring an additional 2,366 shares during the last quarter. Parallax Volatility Advisers L.P. increased its stake in PACCAR by 112.3% during the first quarter. Parallax Volatility Advisers L.P. now owns 5,522 shares of the company's stock worth $538,000 after acquiring an additional 2,921 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in PACCAR by 9.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 130,365 shares of the company's stock worth $12,694,000 after acquiring an additional 11,705 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PACCAR by 0.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 403,517 shares of the company's stock worth $39,290,000 after acquiring an additional 2,739 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in PACCAR by 11.0% during the first quarter. Alliancebernstein L.P. now owns 3,553,190 shares of the company's stock worth $345,974,000 after acquiring an additional 352,496 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.7%

Shares of NASDAQ PCAR traded up $0.75 during trading hours on Friday, reaching $102.51. The stock had a trading volume of 3,812,113 shares, compared to its average volume of 1,994,338. 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 cap of $53.83 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 4.09 and a beta of 0.94. The business's fifty day moving average price is $98.48 and its two-hundred day moving average price is $96.09. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. Analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's payout ratio is presently 22.60%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCAR shares. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. 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. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.68.

Insider Buying and Selling

In related 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 $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 currently owned by insiders.

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.