Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Position in PACCAR Inc. $PCAR

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 952,501 shares of the company’s stock after selling 196,554 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PACCAR were worth $104,308,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares in the last quarter. State Street Corp boosted its holdings in PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Norges Bank purchased a new stake in PACCAR during the fourth quarter worth $727,745,000. Finally, Capital Research Global Investors boosted its holdings in PACCAR by 0.8% during the fourth quarter. Capital Research Global Investors now owns 6,016,243 shares of the company’s stock worth $658,839,000 after buying an additional 45,090 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.8%

PCAR stock opened at $118.52 on Friday. The stock has a market capitalization of $62.38 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.10 and a beta of 0.98. The firm has a 50-day simple moving average of $117.65 and a 200-day simple moving average of $117.48. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. Equities analysts forecast that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on PCAR shares. Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $122.00.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.