716,254 Shares in PACCAR Inc. $PCAR Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 716,254 shares of the company’s stock, valued at approximately $86,036,000. Caisse de depot et placement du Quebec owned 0.14% of PACCAR at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of PACCAR during the second quarter valued at approximately $4,927,720,000. Norges Bank bought a new position in shares of PACCAR during the fourth quarter worth $727,745,000. Bank of New York Mellon Corp purchased a new position in PACCAR during the second quarter valued at $453,107,000. Wellington Management Group LLP grew its stake in PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in PACCAR in the 2nd quarter valued at $335,776,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PCAR. Citigroup boosted their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Truist Financial lifted their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company boosted their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $131.70.

PACCAR Price Performance

PACCAR stock opened at $126.54 on Friday. The company has a market cap of $66.61 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.02 and a beta of 0.97. The firm’s fifty day moving average is $127.22 and its 200 day moving average is $121.90. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the company posted $1.37 EPS. The business’s revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.