Cibc World Markets Corp Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Cibc World Markets Corp increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,321 shares of the company's stock after acquiring an additional 11,683 shares during the period. Cibc World Markets Corp's holdings in PACCAR were worth $9,811,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC acquired a new position in PACCAR during the fourth quarter worth about $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the fourth quarter worth about $43,000. Atala Financial Inc purchased a new position in PACCAR in the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP acquired a new stake in shares of PACCAR during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 1.2 %

PCAR stock traded down $1.21 during midday trading on Friday, hitting $97.11. The stock had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,202. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The firm has a market cap of $50.96 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company's 50-day moving average price is $106.29 and its 200 day moving average price is $106.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

Remove Ads

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company's stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last three months. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PCAR shares. UBS Group downgraded PACCAR from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $124.00 to $108.00 in a research note on Tuesday. Melius Research upgraded PACCAR to a "strong-buy" rating in a research report on Tuesday. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday. Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

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.