PACCAR Inc. $PCAR Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 21.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,372 shares of the company’s stock after acquiring an additional 8,510 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PACCAR were worth $5,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PCAR. Vanguard Group Inc. raised its stake in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the period. Wellington Management Group LLP grew its stake in shares of PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. State Street Corp increased its holdings in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of PACCAR during the 4th quarter valued at approximately $727,745,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $132.24 on Monday. The company has a fifty day simple moving average of $119.00 and a 200-day simple moving average of $120.29. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $133.90. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $69.60 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.21 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Announces Dividend

The company 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PCAR shares. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Morgan Stanley boosted their price objective on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Finally, Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $124.18.

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.