National Bank of Canada FI Acquires 125,933 Shares of PACCAR Inc (NASDAQ:PCAR)

National Bank of Canada FI boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 58.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,850 shares of the company's stock after purchasing an additional 125,933 shares during the quarter. National Bank of Canada FI owned 0.06% of PACCAR worth $33,536,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of PACCAR by 8.2% in the second quarter. Sequoia Financial Advisors LLC now owns 6,424 shares of the company's stock valued at $661,000 after buying an additional 486 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of PACCAR by 16.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 25,915 shares of the company's stock valued at $2,668,000 after buying an additional 3,728 shares in the last quarter. ORG Partners LLC boosted its position in shares of PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company's stock valued at $39,000 after acquiring an additional 378 shares in the last quarter. PGGM Investments increased its stake in PACCAR by 2.3% in the second quarter. PGGM Investments now owns 104,408 shares of the company's stock valued at $10,748,000 after acquiring an additional 2,392 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company's stock worth $2,552,000 after purchasing an additional 5,437 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 0.9 %

PCAR traded down $1.05 during mid-day trading on Monday, reaching $114.83. The stock had a trading volume of 1,841,085 shares, compared to its average volume of 2,587,491. The firm's fifty day simple moving average is $109.82 and its two-hundred day simple moving average is $103.70. The stock has a market capitalization of $60.21 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

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

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. PACCAR's dividend payout ratio is presently 13.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PCAR shares. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday. Finally, Truist Financial upped their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $118.25.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 20,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. 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.