Varma Mutual Pension Insurance Co Invests $17.38 Million in PACCAR Inc. $PCAR

Key Points

• Varma Mutual Pension Insurance Co. acquired 144,643 PACCAR shares worth approximately $17.38 million, while institutional investors and hedge funds collectively own 64.9% of the company.
• Analysts remain broadly cautious, with two Buy ratings and eleven Holds; PACCAR has an average “Hold” rating and a consensus price target of $131.70.
• PACCAR exceeded quarterly expectations, reporting $1.43 in EPS and $7.55 billion in revenue, and declared a quarterly dividend of $0.35 per share. Insiders, however, sold 56,842 shares worth about $7.57 million during the quarter.

Varma Mutual Pension Insurance Co acquired a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 144,643 shares of the company's stock, valued at approximately $17,375,000.

Several other large investors have also recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC bought a new stake in PACCAR during the 4th quarter valued at $27,000. Paladin Partners LLC bought a new position in shares of PACCAR in the second quarter worth $27,000. MCF Advisors LLC increased its holdings in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. acquired a new position in shares of PACCAR during the first quarter valued at $29,000. Finally, Elyxium Wealth LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $30,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research analyst reports. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Citigroup boosted their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of PACCAR in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $131.70.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 50,975 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. The trade was a 15.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company's stock.

PACCAR Trading Up 1.6%

Shares of PACCAR stock opened at $131.03 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm has a market cap of $68.97 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. The business has a fifty day simple moving average of $126.48 and a 200-day simple moving average of $121.90. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR's dividend payout ratio (DPR) is 29.41%.

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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