Canada Pension Plan Investment Board Acquires New Shares in PACCAR Inc. $PCAR

Canada Pension Plan Investment Board bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 757,769 shares of the company’s stock, valued at approximately $91,023,000. Canada Pension Plan Investment Board owned 0.14% of PACCAR at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCAR. Compass Financial Management LLC bought a new stake in PACCAR during the 2nd quarter worth approximately $28,000. Paladin Partners LLC acquired a new position in shares of PACCAR in the second quarter valued at approximately $27,000. Fiduciary Financial Advisors acquired a new position in shares of PACCAR in the second quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new stake in shares of PACCAR during the fourth quarter worth $27,000. Finally, Steph & Co. bought a new stake in shares of PACCAR during the first quarter worth $29,000. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president directly owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 over the last three months. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $131.70.

PACCAR Price Performance

NASDAQ:PCAR opened at $129.23 on Thursday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a market cap of $68.02 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The stock’s 50-day simple moving average is $127.07 and its 200 day simple moving average is $121.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

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.