Vanguard Group Inc. Sells 125,243 Shares of Rush Enterprises, Inc. $RUSHA

Vanguard Group Inc. reduced its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,473,307 shares of the company’s stock after selling 125,243 shares during the period. Vanguard Group Inc. owned 0.08% of Rush Enterprises worth $346,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RUSHA. Farther Finance Advisors LLC grew its stake in Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after buying an additional 365 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after acquiring an additional 633 shares in the last quarter. Federated Hermes Inc. raised its stake in Rush Enterprises by 122.1% in the 3rd quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock worth $42,000 after acquiring an additional 436 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Rush Enterprises by 70.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock worth $51,000 after acquiring an additional 392 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Rush Enterprises in the second quarter valued at about $73,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA opened at $70.97 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $75.99. The firm has a market capitalization of $5.47 billion, a PE ratio of 21.70, a P/E/G ratio of 0.88 and a beta of 0.92. The business’s 50 day moving average price is $64.06 and its 200-day moving average price is $57.28.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 3rd. Rush Enterprises’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Stephens restated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Rush Enterprises has a consensus rating of “Moderate Buy” and an average target price of $76.50.

Insider Activity

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total transaction of $566,480.00. Following the transaction, the director owned 16,229 shares in the company, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the transaction, the senior vice president directly owned 12,590 shares in the company, valued at approximately $904,717.40. The trade was a 26.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,750 shares of company stock worth $1,698,950 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Rush Enterprises 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.