Canada Pension Plan Investment Board Increases Position in PACCAR Inc (NASDAQ:PCAR)

Canada Pension Plan Investment Board raised its position in PACCAR Inc (NASDAQ:PCAR) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 405,220 shares of the company’s stock after purchasing an additional 70,603 shares during the quarter. Canada Pension Plan Investment Board owned 0.08% of PACCAR worth $50,203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. PSI Advisors LLC purchased a new stake in PACCAR in the first quarter valued at approximately $25,000. AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR during the first quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter worth $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR during the first quarter worth $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday. Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Citigroup began coverage on shares of PACCAR in a research note on Wednesday, June 26th. They set a “neutral” rating and a $115.00 target price for the company. Finally, Truist Financial lowered their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $114.27.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,040 shares of company stock worth $4,779,241. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $99.24 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 2.49. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The company has a market capitalization of $52.02 billion, a PE ratio of 10.29, a P/E/G ratio of 1.53 and a beta of 0.92. The company has a fifty day moving average of $105.33 and a two-hundred day moving average of $108.61.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The business’s revenue was down 2.1% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

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.