Public Sector Pension Investment Board Purchases 2,700 Shares of PACCAR Inc (NASDAQ:PCAR)

Public Sector Pension Investment Board raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,850 shares of the company’s stock after acquiring an additional 2,700 shares during the period. Public Sector Pension Investment Board’s holdings in PACCAR were worth $2,255,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Security National Bank lifted its stake in shares of PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after buying an additional 93 shares during the period. Brookstone Capital Management lifted its stake in shares of PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC lifted its stake in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC lifted its stake in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares during the period. Finally, Grove Bank & Trust lifted its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $118.41 on Thursday. The firm has a market cap of $62.08 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.82 and a beta of 0.91. The company has a 50 day moving average of $108.75 and a 200-day moving average of $103.53. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $117.64.

PACCAR 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.