Caisse Des Depots ET Consignations Acquires New Position in PACCAR Inc (NASDAQ:PCAR)

Caisse Des Depots ET Consignations purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 38,766 shares of the company’s stock, valued at approximately $4,032,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Madrona Financial Services LLC grew its position in shares of PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC boosted its stake in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc lifted its stake in shares of PACCAR by 3.7% in the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after buying an additional 101 shares in the last quarter. Insight Wealth Partners LLC boosted its holdings in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after buying an additional 106 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PCAR. Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. Finally, UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $118.38.

PACCAR Price Performance

PCAR stock opened at $99.53 on Thursday. The firm has a market cap of $52.25 billion, a P/E ratio of 12.58, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock’s 50 day moving average price is $105.68 and its 200 day moving average price is $106.60.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.33%. PACCAR’s payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Company 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.