BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $8.63 Million Position in PACCAR Inc (NASDAQ:PCAR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,462 shares of the company's stock after selling 12,917 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in PACCAR were worth $8,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Atria Investments Inc grew its holdings in shares of PACCAR by 23.4% during the first quarter. Atria Investments Inc now owns 17,548 shares of the company's stock valued at $2,174,000 after purchasing an additional 3,324 shares during the last quarter. Cetera Investment Advisers grew its stake in PACCAR by 371.8% during the 1st quarter. Cetera Investment Advisers now owns 44,311 shares of the company's stock worth $5,490,000 after buying an additional 34,919 shares during the last quarter. Cetera Advisors LLC increased its position in PACCAR by 61.5% in the first quarter. Cetera Advisors LLC now owns 15,781 shares of the company's stock worth $1,955,000 after buying an additional 6,010 shares during the period. GAMMA Investing LLC lifted its stake in PACCAR by 28.3% in the second quarter. GAMMA Investing LLC now owns 5,322 shares of the company's stock valued at $548,000 after buying an additional 1,174 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of PACCAR by 11.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the company's stock valued at $184,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded down $0.76 during trading hours on Monday, hitting $116.24. 1,632,325 shares of the company were exchanged, compared to its average volume of 2,601,467. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market capitalization of $60.94 billion, a PE ratio of 12.99, a PEG ratio of 1.83 and a beta of 0.89. The firm has a fifty day simple moving average of $107.64 and a 200-day simple moving average of $103.28. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter last year, the business posted $2.34 EPS. PACCAR's revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR's dividend payout ratio is 13.41%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of analyst reports. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $117.64.

Insider Buying and Selling

In other news, SVP Kevin D. Baney sold 9,894 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company's stock.

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.