Caisse Des Depots ET Consignations Sells 29,697 Shares of PACCAR Inc. $PCAR

Caisse Des Depots ET Consignations lessened its position in PACCAR Inc. (NASDAQ:PCAR) by 80.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,287 shares of the company’s stock after selling 29,697 shares during the period. Caisse Des Depots ET Consignations’ holdings in PACCAR were worth $798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. PFA Pension Forsikringsaktieselskab bought a new position in shares of PACCAR in the fourth quarter worth approximately $61,549,000. Horizon Investments LLC lifted its stake in shares of PACCAR by 3.7% in the fourth quarter. Horizon Investments LLC now owns 34,696 shares of the company’s stock worth $3,800,000 after buying an additional 1,222 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of PACCAR by 2.0% in the fourth quarter. Fifth Third Bancorp now owns 36,798 shares of the company’s stock worth $4,030,000 after buying an additional 717 shares in the last quarter. Danske Bank A S lifted its stake in shares of PACCAR by 2.1% in the fourth quarter. Danske Bank A S now owns 328,340 shares of the company’s stock worth $35,957,000 after buying an additional 6,659 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in shares of PACCAR in the fourth quarter worth approximately $217,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial upped their target price on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, BNP Paribas Exane assumed coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $117.83.

Insider Buying and Selling at PACCAR

In related news, EVP C Michael Dozier sold 79,076 shares of the business’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 completion of the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,664 shares of company stock valued at $14,244,394. 1.99% of the stock is owned by corporate insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $116.09 on Friday. The firm has a 50 day moving average of $120.92 and a 200 day moving average of $114.22. The company has a current ratio of 3.11, a quick ratio of 2.79 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $61.09 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02. PACCAR Inc. has a 12-month low of $88.35 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. On average, research analysts anticipate that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is presently 28.09%.

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.