Rhumbline Advisers Trims Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Rhumbline Advisers decreased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.9% in the second quarter, HoldingsChannel.com reports. The fund owned 64,398 shares of the company’s stock after selling 6,329 shares during the period. Rhumbline Advisers’ holdings in Rush Enterprises were worth $2,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. grew its position in Rush Enterprises by 123.0% during the 1st quarter. Federated Hermes Inc. now owns 1,191 shares of the company’s stock worth $59,000 after purchasing an additional 657 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Rush Enterprises by 24.6% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,283 shares of the company’s stock worth $98,000 after buying an additional 451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Rush Enterprises by 19.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,579 shares of the company’s stock worth $198,000 after buying an additional 753 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Rush Enterprises in the 1st quarter worth approximately $209,000. Finally, Paloma Partners Management Co purchased a new position in Rush Enterprises in the 1st quarter worth approximately $228,000. Institutional investors own 73.26% of the company’s stock.

Several analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Rush Enterprises from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, July 22nd. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Friday, July 23rd. Finally, Credit Suisse Group boosted their price target on shares of Rush Enterprises from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, July 22nd.

Shares of RUSHA opened at $42.65 on Tuesday. The firm’s 50-day moving average is $44.48 and its two-hundred day moving average is $46.54. The firm has a market capitalization of $2.38 billion, a P/E ratio of 13.71, a PEG ratio of 0.76 and a beta of 1.28. Rush Enterprises, Inc. has a twelve month low of $31.52 and a twelve month high of $51.98. The company has a current ratio of 1.41, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Monday, July 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.18. The firm had revenue of $1.32 billion for the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 13.81%. Analysts predict that Rush Enterprises, Inc. will post 3.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, August 9th. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.18. Rush Enterprises’s dividend payout ratio (DPR) is currently 37.25%.

Rush Enterprises Company Profile

Rush Enterprises, Inc engages in the provision of commercial vehicle industry solutions through its network of commercial vehicle dealerships The firm provides an integrated, one-stop approach to the service and sales of new and used heavy- and medium-duty trucks, aftermarket parts, service, collision center capabilities, chrome accessories, tires, engineered vehicle modification solutions, and a range of financial services including financing, insurance and leasing, and rental options.

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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