Elo Mutual Pension Insurance Co Invests $978,000 in Rush Enterprises, Inc. $RUSHA

Elo Mutual Pension Insurance Co acquired a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,290 shares of the company’s stock, valued at approximately $978,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted 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 purchasing an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Rush Enterprises by 427.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after purchasing an additional 633 shares during the period. Federated Hermes Inc. raised its position in shares of Rush Enterprises by 122.1% during the 3rd quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock valued at $42,000 after purchasing an additional 436 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of 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 bought a new position in Rush Enterprises in the 2nd quarter worth $73,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Stock Down 3.6%

Shares of RUSHA opened at $68.72 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $75.99. The business’s 50 day simple moving average is $65.25 and its 200-day simple moving average is $57.66.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

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

Insider Buying and Selling

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares of the company’s stock, valued at $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total value of $566,480.00. Following the completion of the sale, the director directly owned 16,229 shares of the company’s stock, valued at $1,149,175.49. The trade was a 33.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,750 shares of company stock worth $1,698,950. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of several research analyst reports. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Stephens reissued an “overweight” rating and issued a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. UBS Group reiterated a “neutral” rating and set a $73.00 price objective (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 issued a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises currently has an average rating of “Moderate Buy” and a consensus target price of $76.50.

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.