Harbor Capital Advisors Inc. Lowers Holdings in Rush Enterprises, Inc. $RUSHA

Harbor Capital Advisors Inc. trimmed its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 65.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,979 shares of the company’s stock after selling 35,361 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rush Enterprises were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC increased 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 buying an additional 365 shares during the period. Nilsine Partners LLC increased its holdings in shares of Rush Enterprises by 2.6% in the 3rd quarter. Nilsine Partners LLC now owns 56,313 shares of the company’s stock valued at $3,011,000 after acquiring an additional 1,446 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Rush Enterprises by 23.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 41,252 shares of the company’s stock worth $2,125,000 after acquiring an additional 7,793 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Rush Enterprises by 45.7% during the 2nd quarter. Squarepoint Ops LLC now owns 78,985 shares of the company’s stock worth $4,069,000 after purchasing an additional 24,768 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Rush Enterprises by 117.2% during the 2nd quarter. State of Wyoming now owns 9,799 shares of the company’s stock worth $505,000 after purchasing an additional 5,288 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on RUSHA shares. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Stephens decreased their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Rush Enterprises Price Performance

Shares of RUSHA stock opened at $55.61 on Friday. The firm’s 50-day moving average is $52.09 and its two-hundred day moving average is $53.48. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $65.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34. The company has a market capitalization of $4.29 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. The firm had revenue of $1.23 billion during the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. Analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Rush Enterprises’s dividend payout ratio is 22.55%.

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.