Squarepoint Ops LLC Purchases 428,378 Shares of PACCAR Inc (NASDAQ:PCAR)

Squarepoint Ops LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 3,019.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 442,564 shares of the company’s stock after acquiring an additional 428,378 shares during the quarter. Squarepoint Ops LLC’s holdings in PACCAR were worth $45,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of PACCAR by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 100,379 shares of the company’s stock valued at $10,333,000 after buying an additional 37,730 shares during the period. Distillate Capital Partners LLC lifted its position in shares of PACCAR by 135,837.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 187,594 shares of the company’s stock valued at $19,311,000 after acquiring an additional 187,456 shares during the period. Xponance Inc. grew its holdings in shares of PACCAR by 0.3% during the 2nd quarter. Xponance Inc. now owns 70,102 shares of the company’s stock worth $7,216,000 after purchasing an additional 205 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of PACCAR in the second quarter worth $2,005,000. Finally, Public Sector Pension Investment Board raised its stake in PACCAR by 73.2% in the second quarter. Public Sector Pension Investment Board now owns 20,150 shares of the company’s stock valued at $2,074,000 after purchasing an additional 8,517 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.1 %

Shares of PCAR stock opened at $98.12 on Thursday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock’s fifty day simple moving average is $96.65 and its 200 day simple moving average is $105.86. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $51.44 billion, a P/E ratio of 10.18, a P/E/G ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, sell-side analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analysts Set New Price Targets

PCAR has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Truist Financial decreased their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $112.73.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

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.