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

Vanguard Group Inc. cut its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,473,307 shares of the company’s stock after selling 125,243 shares during the quarter. Vanguard Group Inc. owned approximately 8.32% of Rush Enterprises worth $346,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Rush Enterprises by 250.0% during the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after acquiring an additional 365 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Federated Hermes Inc. boosted 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 purchasing an additional 436 shares during the period. PNC Financial Services Group Inc. grew its holdings in Rush Enterprises by 70.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock valued at $51,000 after buying an additional 392 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Rush Enterprises during the 2nd quarter valued at approximately $73,000. Institutional investors own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 16,229 shares in the company, valued at $1,149,175.49. This represents 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 the SEC website. Also, SVP Jody Pollard sold 11,250 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total value of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares in the company, valued at $243,449.20. This trade represents a 76.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,750 shares of company stock worth $1,698,950. 12.28% of the stock is currently owned by corporate insiders.

Rush Enterprises Price Performance

Shares of RUSHA stock opened at $70.97 on Friday. The stock has a 50 day moving average price of $64.06 and a 200 day moving average price of $57.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. The firm has a market capitalization of $5.47 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.88 and a beta of 0.92. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $75.99.

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

Rush Enterprises Announces Dividend

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

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.