Truist Financial Corp Cuts Stock Position in Rush Enterprises, Inc. $RUSHA

Truist Financial Corp lowered its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,113 shares of the company’s stock after selling 718 shares during the period. Truist Financial Corp’s holdings in Rush Enterprises were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC increased its holdings in Rush Enterprises by 73.3% during the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company’s stock worth $47,156,000 after purchasing an additional 373,531 shares during the period. Nuveen LLC acquired a new position in shares of Rush Enterprises during the first quarter worth about $9,667,000. Jane Street Group LLC grew its position in shares of Rush Enterprises by 605.6% during the first quarter. Jane Street Group LLC now owns 153,189 shares of the company’s stock worth $8,182,000 after buying an additional 131,480 shares in the last quarter. American Century Companies Inc. grew its position in shares of Rush Enterprises by 423.4% during the first quarter. American Century Companies Inc. now owns 132,259 shares of the company’s stock worth $7,064,000 after buying an additional 106,991 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Rush Enterprises by 12.0% during the first quarter. Northern Trust Corp now owns 879,554 shares of the company’s stock worth $46,977,000 after buying an additional 94,271 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Trading Down 0.5%

NASDAQ RUSHA opened at $51.11 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The firm’s fifty day moving average price is $55.61 and its 200 day moving average price is $53.03. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. Rush Enterprises, Inc. has a 12 month low of $47.06 and a 12 month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.23 billion during the quarter. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, August 12th. Rush Enterprises’s payout ratio is 21.65%.

Insider Activity

In other news, Director Michael Mcroberts sold 6,000 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director directly owned 15,771 shares of the company’s stock, valued at approximately $861,727.44. This represents a 27.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the transaction, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. This trade represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,480 shares of company stock valued at $862,104. Insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

RUSHA has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Rush Enterprises currently has an average rating of “Buy” and a consensus price target of $61.00.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.