Bank of Nova Scotia Has $5.24 Million Stake in PACCAR Inc. (PCAR)
Bank of Nova Scotia decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,410 shares of the company’s stock after selling 830 shares during the period. Bank of Nova Scotia’s holdings in PACCAR were worth $5,244,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue grew its stake in shares of PACCAR by 29.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the period. Perkins Coie Trust Co grew its stake in shares of PACCAR by 102.8% in the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the period. Finally, Sun Life Financial INC grew its stake in shares of PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares during the period. 62.13% of the stock is owned by institutional investors and hedge funds.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.64% of the stock is owned by insiders.
Several research firms have recently weighed in on PCAR. BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. UBS AG reissued a “buy” rating and issued a $76.00 price target (up previously from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. increased their price target on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 price target on shares of PACCAR in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $75.42.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 72.69 on Monday. The firm has a market capitalization of $25.54 billion, a price-to-earnings ratio of 19.46 and a beta of 1.17. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $74.79. The firm’s 50-day moving average is $70.23 and its 200-day moving average is $66.77.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc. will post $4.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.38%. PACCAR’s dividend payout ratio is currently 26.74%.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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