Vestcor Inc Sells 11,024 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Vestcor Inc has significantly reduced its stake in PACCAR Inc by 53%, selling over 11,000 shares and leaving their holdings valued at approximately $951,000.
• In the first quarter, other institutional investors such as Farmers & Merchants Investments Inc. and RMR Wealth Builders increased their stakes in PACCAR, indicating mixed sentiments among investors.
• PACCAR recently announced a quarterly dividend of $0.33 per share, reflecting a yield of 1.4%, with the ex-dividend date set for August 14th.

Vestcor Inc decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 53.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,770 shares of the company's stock after selling 11,024 shares during the period. Vestcor Inc's holdings in PACCAR were worth $951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. increased its position in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of PACCAR during the first quarter valued at $29,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 174 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $2.28 during midday trading on Friday, hitting $96.48. 3,551,259 shares of the stock traded hands, compared to its average volume of 3,644,137. The firm has a market capitalization of $50.65 billion, a P/E ratio of 16.52, a PEG ratio of 3.85 and a beta of 0.91. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm has a 50-day moving average of $95.41 and a two-hundred day moving average of $97.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion for 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%. PACCAR's revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 22.60%.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.77.

About PACCAR

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.