National Bank of Canada FI Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

National Bank of Canada FI lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 336,404 shares of the company's stock after selling 3,446 shares during the period. National Bank of Canada FI owned 0.06% of PACCAR worth $34,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new stake in PACCAR during the fourth quarter valued at $1,984,000. Cullen Frost Bankers Inc. raised its position in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after buying an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock valued at $2,962,000 after buying an additional 5,871 shares in the last quarter. LPL Financial LLC raised its position in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after buying an additional 12,143 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its holdings in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

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Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on 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 in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were 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 $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Finally, UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and a consensus target price of $117.54.

PACCAR Trading Down 1.6 %

PCAR traded down $1.48 during trading on Friday, hitting $90.88. 6,326,890 shares of the stock were exchanged, compared to its average volume of 2,674,904. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a 50 day simple moving average of $103.74 and a 200 day simple moving average of $106.57. The firm has a market cap of $47.71 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $81.60 and a 1 year high of $123.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is presently 16.69%.

PACCAR Profile

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.