Candriam S.C.A. Has $3.04 Million Stake in PACCAR Inc. $PCAR

Candriam S.C.A. reduced its holdings in PACCAR Inc. (NASDAQ:PCAR) by 16.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,988 shares of the company’s stock after selling 6,176 shares during the quarter. Candriam S.C.A.’s holdings in PACCAR were worth $3,041,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PCAR. Wellington Management Group LLP grew its position in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock valued at $205,469,000 after buying an additional 2,041,168 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after buying an additional 1,677,736 shares during the period. Jones Financial Companies Lllp grew its position in PACCAR by 16,393.9% during the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock worth $139,402,000 after buying an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in PACCAR during the first quarter worth about $125,566,000. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PCAR. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Truist Financial raised their target price on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Finally, UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $106.54.

PACCAR Stock Performance

NASDAQ PCAR opened at $95.59 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a 50 day moving average of $98.22 and a 200-day moving average of $96.69. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $50.20 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue was down 20.7% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

PACCAR 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.