QRG Capital Management Inc. Sells 10,127 Shares of Rush Enterprises, Inc. $RUSHA

QRG Capital Management Inc. cut its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 71.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,042 shares of the company’s stock after selling 10,127 shares during the quarter. QRG Capital Management Inc.’s holdings in Rush Enterprises were worth $216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Rush Enterprises by 250.0% in the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after acquiring an additional 365 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Rush Enterprises by 427.7% during 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 during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Rush Enterprises in the 2nd quarter worth approximately $73,000. Smithfield Trust Co boosted its stake in shares of Rush Enterprises by 864.5% in the 2nd quarter. Smithfield Trust Co now owns 1,765 shares of the company’s stock valued at $91,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Rush Enterprises by 8.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock valued at $159,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Trading Down 3.2%

RUSHA opened at $63.08 on Monday. The company has a fifty day moving average price of $55.85 and a two-hundred day moving average price of $54.50. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $66.11. The company has a market cap of $4.86 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, October 29th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Rush Enterprises had a return on equity of 12.52% and a net margin of 3.57%.The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.75 billion. Analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Rush Enterprises’s payout ratio is currently 22.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RUSHA shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Stephens cut their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

About Rush Enterprises

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.