Canada Post Corp Registered Pension Plan Decreases Stock Holdings in PACCAR Inc. $PCAR

Canada Post Corp Registered Pension Plan lessened its stake in PACCAR Inc. (NASDAQ:PCAR) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,697 shares of the company’s stock after selling 4,337 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in PACCAR were worth $868,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ABN AMRO Bank N.V. purchased a new position in PACCAR in the 3rd quarter valued at about $497,000. Bessemer Group Inc. increased its stake in PACCAR by 11.9% during the 3rd quarter. Bessemer Group Inc. now owns 15,266 shares of the company’s stock worth $1,501,000 after buying an additional 1,627 shares in the last quarter. Savant Capital LLC raised its holdings in shares of PACCAR by 8.8% during the third quarter. Savant Capital LLC now owns 14,950 shares of the company’s stock valued at $1,470,000 after acquiring an additional 1,207 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of PACCAR in the third quarter valued at approximately $2,231,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of PACCAR by 97.5% in the third quarter. Hantz Financial Services Inc. now owns 869 shares of the company’s stock worth $85,000 after acquiring an additional 429 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 0.1%

PCAR stock opened at $127.35 on Monday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The firm has a market cap of $66.88 billion, a PE ratio of 28.24, a PEG ratio of 1.07 and a beta of 1.03. The firm’s 50 day moving average price is $116.12 and its 200-day moving average price is $104.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.42 and a current ratio of 1.70.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. On average, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 29.27%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $116.50.

Insider Buying and Selling at PACCAR

In related news, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares in the company, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares in the company, valued at approximately $33,536,010.20. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 130,905 shares of company stock valued at $16,582,144. 2.02% of the stock is currently owned by company insiders.

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.