Renasant Bank Sells 355 Shares of PACCAR Inc (NASDAQ:PCAR)

Renasant Bank lessened its position in PACCAR Inc (NASDAQ:PCAR) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,083 shares of the company’s stock after selling 355 shares during the quarter. Renasant Bank’s holdings in PACCAR were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PCAR. Madrona Financial Services LLC increased its stake in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares in the last quarter. Global Financial Private Client LLC increased its position in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after buying an additional 97 shares in the last quarter. Insight Wealth Partners LLC raised its stake in PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 0.8 %

Shares of PCAR stock opened at $99.21 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market cap of $52.07 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a fifty day moving average price of $107.17 and a 200-day moving average price of $106.26.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of analyst reports. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $121.77.

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.