PACCAR Inc (NASDAQ:PCAR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,404 shares of the company’s stock after selling 3,446 shares during the quarter. National Bank of Canada FI’s holdings in PACCAR were worth $34,995,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Everence Capital Management Inc. acquired a new position in PACCAR during the fourth quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. increased its holdings in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the period. Insight Wealth Strategies LLC boosted its holdings in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, LPL Financial LLC grew its position in PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after acquiring an additional 12,143 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $99.09 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $123.20. The business has a 50 day moving average price of $104.48 and a two-hundred day moving average price of $106.71. The firm has a market cap of $52.02 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup reduced their price objective on PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.54.

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.