BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 12,917 Shares of PACCAR Inc (NASDAQ:PCAR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,462 shares of the company’s stock after selling 12,917 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PACCAR were worth $8,631,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Atria Investments Inc grew its holdings in PACCAR by 23.4% during the 1st quarter. Atria Investments Inc now owns 17,548 shares of the company’s stock worth $2,174,000 after acquiring an additional 3,324 shares during the last quarter. Cetera Investment Advisers increased its holdings in PACCAR by 371.8% in the first quarter. Cetera Investment Advisers now owns 44,311 shares of the company’s stock valued at $5,490,000 after purchasing an additional 34,919 shares during the period. Cetera Advisors LLC raised its position in PACCAR by 61.5% during the 1st quarter. Cetera Advisors LLC now owns 15,781 shares of the company’s stock worth $1,955,000 after purchasing an additional 6,010 shares during the last quarter. GAMMA Investing LLC lifted its holdings in PACCAR by 28.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,322 shares of the company’s stock worth $548,000 after buying an additional 1,174 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of PACCAR by 11.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the company’s stock valued at $184,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $117.00 on Monday. The firm has a market capitalization of $61.34 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.83 and a beta of 0.89. The firm’s 50-day moving average price is $107.64 and its 200-day moving average price is $103.28. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PCAR shares. JPMorgan Chase & Co. cut their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $117.64.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company 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.