Ontario Teachers Pension Plan Board Sells 393,667 Shares of PACCAR Inc (NASDAQ:PCAR)

Ontario Teachers Pension Plan Board reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,501,228 shares of the company’s stock after selling 393,667 shares during the period. PACCAR comprises approximately 3.4% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 15th biggest position. Ontario Teachers Pension Plan Board owned about 0.67% of PACCAR worth $341,895,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Orion Portfolio Solutions LLC increased its position in shares of PACCAR by 110.4% during the third quarter. Orion Portfolio Solutions LLC now owns 27,274 shares of the company’s stock valued at $2,319,000 after acquiring an additional 14,312 shares during the last quarter. FDx Advisors Inc. purchased a new position in shares of PACCAR in the 3rd quarter worth about $291,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in PACCAR by 4.6% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,410 shares of the company’s stock valued at $715,000 after buying an additional 369 shares during the period. Private Advisor Group LLC increased its holdings in PACCAR by 15.0% during the third quarter. Private Advisor Group LLC now owns 18,209 shares of the company’s stock worth $1,548,000 after buying an additional 2,371 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in PACCAR by 55.1% in the third quarter. Larson Financial Group LLC now owns 459 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 2.6 %

Shares of PCAR traded up $2.73 during mid-day trading on Wednesday, reaching $108.33. The company had a trading volume of 3,209,652 shares, compared to its average volume of 2,425,811. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a 50-day moving average price of $114.91 and a 200 day moving average price of $104.76. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a market capitalization of $56.78 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, sell-side analysts forecast that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. PACCAR’s payout ratio is presently 12.45%.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 over the last 90 days. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PCAR shares. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. TD Cowen increased their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. Finally, Evercore ISI boosted their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Company 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.