Candriam Luxembourg S.C.A. Sells 60,052 Shares of PACCAR Inc. (PCAR)
Candriam Luxembourg S.C.A. cut its holdings in PACCAR Inc. (NASDAQ:PCAR) by 54.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,992 shares of the company’s stock after selling 60,052 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in PACCAR were worth $3,616,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of PACCAR by 6.6% in the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after purchasing an additional 1,572,038 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PACCAR by 5.0% in the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after purchasing an additional 1,164,896 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PACCAR by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock valued at $400,938,000 after purchasing an additional 580,223 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of PACCAR by 5.5% in the third quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock valued at $203,028,000 after purchasing an additional 145,932 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after purchasing an additional 2,038,761 shares in the last quarter. 63.03% of the stock is owned by hedge funds and other institutional investors.
In related news, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of PACCAR stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the sale, the vice president now owns 24,319 shares of the company’s stock, valued at $1,726,649. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,598 shares of company stock valued at $7,597,908. Corporate insiders own 2.64% of the company’s stock.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at $68.67 on Wednesday. PACCAR Inc. has a 52-week low of $58.78 and a 52-week high of $75.68. The firm has a market capitalization of $24,373.62, a price-to-earnings ratio of 17.77, a PEG ratio of 1.66 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. equities research analysts predict that PACCAR Inc. will post 4.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. PACCAR’s dividend payout ratio (DPR) is 25.64%.
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A number of research firms recently weighed in on PCAR. BidaskClub lowered shares of PACCAR from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Stifel Nicolaus cut their target price on shares of PACCAR from $76.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, October 25th. Wells Fargo & Company cut their target price on shares of PACCAR from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, October 25th. Finally, UBS AG set a $79.00 target price on shares of PACCAR and gave the company a “buy” rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $75.95.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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