Commonwealth Equity Services LLC, a well-known institutional investor, has made headlines for its recent reduction in position in PACCAR Inc (NASDAQ: PCAR). According to the company’s most recent disclosure with the Securities and Exchange Commission (SEC), Commonwealth Equity Services LLC sold 1,811 shares during the fourth quarter. This resulted in a reduction of its holdings from 53,339 shares to 51,528 shares. At the end of the most recent quarter, these holdings were worth $5,099,000.
The current market speculation surrounding this move indicates that Commonwealth Equity Services LLC may have lost confidence in PACCAR and is looking to liquidate some of its assets. However, this is purely speculative and nothing concrete has been officially cited by Commonwealth Equity Services LLC regarding their decision.
In addition to this news on Commonwealth Equity Services LLC’s move out of PCAR stock position, PACCAR also recently declared an upcoming quarterly dividend. The dividend payout is set for Wednesday, June 7th, with stockholders of record as of Wednesday, May 17th being issued a dividend of $0.25 per share. With an annualized dividend payout ratio (DPR) amounting to $1.00 per share and a yield percentage of 1.38%, investors who remain faithful to PACCAR will see returns trickling in by early June.
While many might take these dividends as beacons of solid financial performance and stability attached to dependable payment streams; insider trading activities at PACCAR have shown increased movement over the past few months thereby generating mixed signals among shareholders and market analysts alike about what truly lies ahead for the company.
Recently revealed SEC filings disclose that Vice President Michael T. Barkley has sold a total of 50K shares at prices ranging between $72-$75/ly amounting up to almost $3 million so far this May alone – bringing into question what he knows that the general public doesn’t. CEO R Preston Feight also follows his colleague’s trend by selling some of his PACCAR shares this month at an average price of $72.64, worth a total of $3,379,430.72.
During the past three months, insiders have sold 95,529 shares of company stock totaling to US$7m – which in turn only makes up about 2.06% of the total PCAR stock. Nonetheless, such high volume stock market activities seem to have investors on edge by pushing them towards heightened curiosity and be unsure about the future prospects for tangible growth for PACCAR moving forward over time.
Regardless of how things shake out with insider trading or Commonwealth Equity’s lessened holdings in PCAR stocks, PACCAR continues to be a polarizing subject amongst investors and traders due to its two-faced reputation of balance sheet fortitude and low-yielding annual returns among other potential red flags that should never be ignored even if they don’t move markets as much as other factors do!
Source: https://beststocks.com/commonwealth-equity-services-llc-reduces-position-5/
