Public Sector Pension Investment Board Buys 5,795 Shares of PACCAR Inc. $PCAR

Public Sector Pension Investment Board lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,641 shares of the company’s stock after buying an additional 5,795 shares during the period. Public Sector Pension Investment Board’s holdings in PACCAR were worth $4,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Wealth Management Group LLC lifted its stake in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of PACCAR in the third quarter valued at about $38,000. Westside Investment Management Inc. lifted its position in shares of PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after purchasing an additional 134 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in PACCAR during the third quarter worth about $82,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the transaction, the vice president directly owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

PACCAR stock opened at $124.90 on Friday. The business’s 50 day simple moving average is $119.27 and its 200 day simple moving average is $106.51. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The company has a market cap of $65.60 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.05 and a beta of 1.03. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio is 29.27%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Sanford C. Bernstein set a $138.00 price target on PACCAR and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company set a $119.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.50.

About PACCAR

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.