OMERS ADMINISTRATION Corp Makes New Investment in PACCAR Inc. $PCAR

OMERS ADMINISTRATION Corp purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,403 shares of the company’s stock, valued at approximately $6,415,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Osmosis Investment Management UK Ltd acquired a new stake in shares of PACCAR during the second quarter valued at $1,879,000. Sanctuary Advisors LLC purchased a new stake in PACCAR during the 2nd quarter worth about $2,038,000. Solstein Capital LLC acquired a new position in PACCAR in the 2nd quarter valued at about $93,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in PACCAR in the 2nd quarter valued at about $1,409,000. Finally, Twin Tree Management LP purchased a new position in PACCAR in the 2nd quarter valued at about $414,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.8%

Shares of NASDAQ PCAR opened at $129.94 on Tuesday. The stock has a market capitalization of $68.40 billion, a PE ratio of 27.30, a P/E/G ratio of 1.03 and a beta of 0.97. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $126.66 and a 200-day moving average of $121.89. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company posted $1.37 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is 29.41%.

Insider Transactions at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the sale, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

PCAR has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Citigroup boosted their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Truist Financial lifted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley set a $119.00 price target on PACCAR in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $131.70.

PACCAR Company Profile

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.