Bank of Nova Scotia Has $17.45 Million Position in PACCAR Inc. $PCAR

Bank of Nova Scotia cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 64.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 151,074 shares of the company’s stock after selling 274,899 shares during the period. Bank of Nova Scotia’s holdings in PACCAR were worth $17,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators lifted its position in PACCAR by 9.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after acquiring an additional 80 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after buying an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after buying an additional 87 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after acquiring an additional 87 shares during the period. Finally, Jackson Square Capital LLC grew its stake in shares of PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $132.24 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $69.60 billion, a PE ratio of 28.14, a P/E/G ratio of 1.21 and a beta of 0.97. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $133.90. The business’s 50-day moving average price is $119.00 and its two-hundred day moving average price is $120.24.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Citigroup reaffirmed a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Morgan Stanley raised their target price on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $124.18.

PACCAR Company 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.