Pacer Advisors Inc. bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 478,522 shares of the company’s stock, valued at approximately $25,811,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. CIBC Private Wealth Group LLC raised its holdings in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the third quarter valued at approximately $34,000. Allworth Financial LP increased its position in shares of Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Rush Enterprises in the fourth quarter valued at $37,000. 84.43% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
RUSHA has been the subject of several research reports. UBS Group raised their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price on the stock. Finally, Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average price target of $83.67.
Insider Transactions at Rush Enterprises
In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.68% of the stock is owned by corporate insiders.
Rush Enterprises Stock Performance
Shares of NASDAQ:RUSHA opened at $70.11 on Friday. The business’s fifty day moving average price is $70.61 and its two-hundred day moving average price is $65.85. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $76.99. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.
Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. As a group, analysts predict that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.
Rush Enterprises Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.
Rush Enterprises Company Profile
Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.
Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.
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