Caisse DE Depot ET Placement DU Quebec reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 29.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,100 shares of the company’s stock after selling 18,700 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in PACCAR were worth $3,135,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $19,751,000. Alliancebernstein L.P. lifted its holdings in shares of PACCAR by 42.9% in the 4th quarter. Alliancebernstein L.P. now owns 820,484 shares of the company’s stock valued at $58,320,000 after buying an additional 246,484 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $4,133,000. 180 Wealth Advisors LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,315,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of PACCAR by 491.4% in the 4th quarter. WINTON GROUP Ltd now owns 52,341 shares of the company’s stock valued at $3,720,000 after buying an additional 43,490 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.
In other news, VP Marco A. Davila purchased 570 shares of the stock in a transaction on Friday, February 16th. The stock was purchased at an average price of $69.05 per share, with a total value of $39,358.50. Following the completion of the transaction, the vice president now owns 7,536 shares in the company, valued at $520,360.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.06. PACCAR had a return on equity of 19.65% and a net margin of 8.61%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. analysts expect that PACCAR Inc will post 5.29 EPS for the current year.
PCAR has been the subject of several research reports. Piper Jaffray Companies set a $67.00 price objective on PACCAR and gave the stock a “hold” rating in a report on Sunday, December 10th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, January 2nd. Morgan Stanley initiated coverage on PACCAR in a report on Friday, March 2nd. They set an “underweight” rating and a $69.00 price objective for the company. Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Longbow Research raised PACCAR from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. PACCAR currently has an average rating of “Hold” and an average target price of $76.24.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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