53,403 Shares in PACCAR Inc. $PCAR Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 53,403 shares of the company’s stock, valued at approximately $6,415,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of PACCAR during the second quarter worth approximately $4,927,720,000. Norges Bank acquired a new stake in PACCAR during the 4th quarter worth $727,745,000. Bank of New York Mellon Corp acquired a new stake in PACCAR during the 2nd quarter worth $453,107,000. Wellington Management Group LLP grew its position in PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in PACCAR during the 2nd quarter worth $239,460,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $129.94 on Tuesday. The stock has a fifty day moving average price of $126.66 and a 200 day moving average price of $121.89. The stock has a market cap of $68.40 billion, a PE ratio of 27.30, a P/E/G ratio of 1.03 and a beta of 0.97. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. PACCAR’s revenue was up .5% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s payout ratio is currently 29.41%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 50,975 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. Insiders have sold 56,842 shares of company stock valued at $7,565,677 over the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCAR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Truist Financial raised their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $131.70.

PACCAR 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.