Oregon Public Employees Retirement Fund Buys 14,766 Shares of PACCAR Inc. $PCAR

Oregon Public Employees Retirement Fund increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 32.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,053 shares of the company’s stock after acquiring an additional 14,766 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in PACCAR were worth $5,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. JT Stratford LLC acquired a new stake in PACCAR in the second quarter worth $1,301,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of PACCAR by 77.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after purchasing an additional 103,664 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of PACCAR by 46.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after buying an additional 88,551 shares during the period. Endeavor Private Wealth Inc. bought a new stake in PACCAR in the 3rd quarter valued at about $3,817,000. Finally, Robeco Institutional Asset Management B.V. increased its position in PACCAR by 77.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 228,946 shares of the company’s stock valued at $22,510,000 after buying an additional 100,285 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCAR. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of PACCAR in a research report on Tuesday, October 21st. Morgan Stanley set a $90.00 target price on PACCAR in a report on Tuesday, October 21st. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Stock Up 0.5%

Shares of NASDAQ:PCAR opened at $118.80 on Friday. The business’s 50 day moving average is $106.78 and its 200 day moving average is $101.16. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $119.21. The stock has a market cap of $62.39 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 14.78 and a beta of 1.01. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the business posted $1.85 earnings per share. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

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.