OMERS ADMINISTRATION Corp Sells 5,120 Shares of PACCAR Inc (NASDAQ:PCAR)

OMERS ADMINISTRATION Corp cut its stake in PACCAR Inc (NASDAQ:PCAR) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,786 shares of the company’s stock after selling 5,120 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PACCAR were worth $3,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR during the fourth quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the 4th quarter valued at $43,000. Finally, Atala Financial Inc acquired a new stake in shares of PACCAR in the 4th quarter valued at $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.5%

Shares of PCAR opened at $96.26 on Wednesday. The business’s fifty day moving average price is $94.10 and its two-hundred day moving average price is $104.08. The firm has a market capitalization of $50.53 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company’s revenue was down 16.0% compared to the same quarter last year. During the same period last year, the company earned $2.27 EPS. On average, analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.37%. PACCAR’s payout ratio is presently 20.00%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent analyst reports. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Citigroup reduced their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.23.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

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.