Caisse de depot et placement du Quebec Takes Position in PACCAR Inc. $PCAR

Caisse de depot et placement du Quebec bought a new position in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel reports. The firm bought 716,254 shares of the company’s stock, valued at approximately $86,036,000.

A number of other large investors have also recently made changes to their positions in PCAR. Brighton Jones LLC lifted its stake in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth grew its stake in shares of PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after buying an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after buying an additional 5,327 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of PACCAR in the second quarter worth approximately $81,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 2.1%

Shares of NASDAQ PCAR opened at $126.54 on Friday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The firm has a market capitalization of $66.61 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.02 and a beta of 0.97. The stock has a 50 day moving average price of $127.22 and a 200 day moving average price of $121.90. 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 released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. Sell-side analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCAR. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Morgan Stanley set a $119.00 target price on PACCAR in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average target price of $131.70.

Insider Transactions at PACCAR

In related 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 over the last quarter. 1.99% of the stock is owned by corporate insiders.

About PACCAR

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.