Squarepoint Ops LLC lowered its position in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 26.5% in the second quarter, Holdings Channel reports. The fund owned 422,325 shares of the company’s stock after selling 152,274 shares during the period. Squarepoint Ops LLC’s holdings in PACCAR were worth $50,730,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in PACCAR during the second quarter worth approximately $16,286,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of PACCAR in the 1st quarter valued at $9,273,000. Finally, Mengis Capital Management Inc. raised its stake in PACCAR by 16.1% during the 4th quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock worth $12,209,000 after acquiring an additional 15,440 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.
Insider Buying and Selling at PACCAR
In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.
PACCAR Trading Down 1.8%
PACCAR (NASDAQ:PCAR – Get Free Report) last posted 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 business 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 company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. Equities analysts anticipate that PACCAR Inc. will post 5.91 EPS for the current year.
PACCAR Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were given a $0.35 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is currently 29.41%.
Analysts Set New Price Targets
PCAR has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Citigroup raised their price target on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.30.
Get Our Latest Stock Report on PCAR
About PACCAR
PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.
In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.
PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.
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