Amundi Buys 505,577 Shares of PACCAR Inc. $PCAR

Amundi boosted its stake in PACCAR Inc. (NASDAQ:PCAR) by 28.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308,750 shares of the company’s stock after purchasing an additional 505,577 shares during the quarter. Amundi owned about 0.44% of PACCAR worth $229,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Marshall Wace LLP raised its position in shares of PACCAR by 688.8% during the 2nd quarter. Marshall Wace LLP now owns 232,700 shares of the company’s stock valued at $22,120,000 after buying an additional 203,200 shares in the last quarter. Great Diamond Partners LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at about $850,000. First Trust Advisors LP boosted its holdings in PACCAR by 13.2% during the 2nd quarter. First Trust Advisors LP now owns 4,325,789 shares of the company’s stock valued at $411,210,000 after acquiring an additional 502,920 shares during the period. Guggenheim Capital LLC grew its position in PACCAR by 35.7% during the 2nd quarter. Guggenheim Capital LLC now owns 146,366 shares of the company’s stock worth $13,914,000 after acquiring an additional 38,529 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new position in PACCAR in the 2nd quarter worth approximately $8,042,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCAR. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Truist Financial lifted their target price on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company started coverage on shares of PACCAR in a report on Thursday, November 13th. They set a “positive” rating and a $106.00 price target for the company. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.96.

PACCAR Trading Up 1.7%

Shares of PCAR opened at $110.33 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $117.00. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $99.32 and its 200-day moving average price is $97.78. The firm has a market capitalization of $57.95 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 15.09 and a beta of 1.01.

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

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. PACCAR’s payout ratio is currently 25.83%.

About PACCAR

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.