PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,850 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in PACCAR were worth $2,255,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in PACCAR in the second quarter worth approximately $2,862,000. Mengis Capital Management Inc. grew its position in PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares during the last quarter. Fisher Asset Management LLC grew its position in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in PACCAR by 28.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after purchasing an additional 5,437 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PACCAR by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock worth $301,260,000 after purchasing an additional 47,855 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 1.3 %

PACCAR stock opened at $118.41 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market capitalization of $62.08 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.82 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company’s fifty day moving average price is $108.75 and its two-hundred day moving average price is $103.53.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 earnings per share. On average, analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.01%. The ex-dividend date was Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last three months. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup lifted their price objective on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $117.64.

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.