Renasant Bank Decreases Stock Position in PACCAR Inc (NASDAQ:PCAR)

Renasant Bank decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 14.6% in the fourth quarter, HoldingsChannel reports. 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in PACCAR by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company’s stock worth $7,844,000 after purchasing an additional 1,249 shares during the last quarter. KBC Group NV raised its stake in PACCAR by 50.4% during the third quarter. KBC Group NV now owns 241,097 shares of the company’s stock valued at $23,792,000 after purchasing an additional 80,749 shares in the last quarter. Metis Global Partners LLC lifted its position in PACCAR by 1.8% during the third quarter. Metis Global Partners LLC now owns 16,751 shares of the company’s stock valued at $1,653,000 after purchasing an additional 300 shares during the last quarter. Finally, Intellectus Partners LLC grew its stake in shares of PACCAR by 5.1% in the 3rd quarter. Intellectus Partners LLC now owns 10,723 shares of the company’s stock worth $1,058,000 after buying an additional 522 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

PACCAR Price Performance

PCAR opened at $99.21 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $107.17 and its 200-day simple moving average is $106.26. The company has a market capitalization 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 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Company 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.