Power Corp of Canada Acquires Shares of 51,011 PACCAR Inc (NASDAQ:PCAR)

Power Corp of Canada acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 51,011 shares of the company’s stock, valued at approximately $4,981,000.

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in PACCAR in the 4th quarter valued at $37,000. ORG Partners LLC raised its position in PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 372 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in PACCAR in the 4th quarter valued at $39,000. Finally, Mendota Financial Group LLC bought a new position in PACCAR in the 4th quarter valued at $44,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 1.3 %

NASDAQ:PCAR traded down $1.43 on Tuesday, reaching $106.00. The company’s stock had a trading volume of 2,634,203 shares, compared to its average volume of 2,456,712. PACCAR Inc has a 1-year low of $76.35 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a market cap of $55.56 billion, a PE ratio of 11.00, a PEG ratio of 1.64 and a beta of 0.94. The business’s 50-day moving average price is $110.71 and its two-hundred day moving average price is $106.67.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. PACCAR’s payout ratio is presently 12.45%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCAR. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Finally, Truist Financial restated a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $112.62.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. Company insiders own 2.02% of the company’s stock.

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.