National Bank of Canada FI Has $55.82 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

National Bank of Canada FI grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 103.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 576,749 shares of the company’s stock after purchasing an additional 293,282 shares during the quarter. National Bank of Canada FI owned about 0.11% of PACCAR worth $55,818,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCAR. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after acquiring an additional 23,865 shares in the last quarter. Northern Trust Corp grew its stake in PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after buying an additional 316,001 shares during the last quarter. Fisher Asset Management LLC increased its position in PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after buying an additional 89,984 shares during the period. Invesco Ltd. grew its position in PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after buying an additional 328,347 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PACCAR by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,913,341 shares of the company’s stock worth $247,692,000 after acquiring an additional 15,599 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Morgan Stanley started coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Truist Financial reissued a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a report on Thursday. Seven research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.62.

PACCAR Price Performance

Shares of PACCAR stock traded down $1.67 on Friday, hitting $104.79. The company’s stock had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a market capitalization of $54.91 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. The firm has a fifty day moving average price of $116.42 and a 200-day moving average price of $102.78.

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

PACCAR Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

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.