Caisse DE Depot ET Placement DU Quebec Has $12.86 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Caisse DE Depot ET Placement DU Quebec reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 89.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 123,672 shares of the company’s stock after selling 999,168 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in PACCAR were worth $12,864,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR during the fourth quarter worth about $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR in the fourth quarter worth approximately $43,000. Finally, Atala Financial Inc bought a new stake in PACCAR in the fourth quarter valued at approximately $43,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.23.

PACCAR Price Performance

Shares of PCAR opened at $89.90 on Friday. The business’s fifty day moving average is $95.97 and its 200 day moving average is $104.81. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock has a market cap of $47.19 billion, a P/E ratio of 11.37, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period last year, the business posted $2.27 earnings per share. Sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

About PACCAR

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.