Healthcare of Ontario Pension Plan Trust Fund Trims Holdings in PACCAR Inc. $PCAR

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 82.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,919 shares of the company’s stock after selling 781,582 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PACCAR were worth $19,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. Ares Financial Consulting LLC acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $27,000. MCF Advisors LLC boosted its position in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the last quarter. Steph & Co. purchased a new stake in PACCAR in the 1st quarter worth approximately $29,000. Elyxium Wealth LLC purchased a new stake in PACCAR in the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in PACCAR in the 3rd quarter valued at $32,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $133.44 on Tuesday. The business has a 50-day moving average of $119.44 and a two-hundred day moving average of $120.41. The firm has a market capitalization of $70.23 billion, a PE ratio of 28.39, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $134.27.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the company posted $1.46 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCAR. JPMorgan Chase & Co. increased their price target on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Morgan Stanley upped their target price on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $124.50.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.