Fifth Third Bancorp Increases Stock Position in Rush Enterprises, Inc. $RUSHA

Fifth Third Bancorp grew its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7,670.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,753 shares of the company’s stock after acquiring an additional 13,576 shares during the period. Fifth Third Bancorp’s holdings in Rush Enterprises were worth $909,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Rush Enterprises by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock worth $203,618,000 after purchasing an additional 29,375 shares during the period. State Street Corp raised its position in Rush Enterprises by 0.3% in the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after purchasing an additional 6,994 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in Rush Enterprises by 20.6% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after purchasing an additional 173,096 shares in the last quarter. Beck Mack & Oliver LLC lifted its stake in Rush Enterprises by 1.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock worth $53,071,000 after purchasing an additional 14,995 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after buying an additional 607,047 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of several research analyst reports. UBS Group boosted their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Wolfe Research assumed coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. Finally, Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rush Enterprises currently has an average rating of “Moderate Buy” and an average price target of $83.67.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $76.57 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $71.54 and a 200-day simple moving average of $69.20. The stock has a market cap of $5.95 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $80.17.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Equities analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.96%.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.68% of the company’s stock.

Rush Enterprises 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.