Systematic Financial Management LP trimmed its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 44.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,366 shares of the company’s stock after selling 6,781 shares during the period. Systematic Financial Management LP’s holdings in Rush Enterprises were worth $306,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RUSHA. Raymond James & Associates lifted its holdings in Rush Enterprises by 4.8% during the 4th quarter. Raymond James & Associates now owns 6,939 shares of the company’s stock worth $239,000 after purchasing an additional 320 shares during the last quarter. Legal & General Group Plc lifted its holdings in Rush Enterprises by 4.0% during the 4th quarter. Legal & General Group Plc now owns 26,443 shares of the company’s stock worth $912,000 after purchasing an additional 1,018 shares during the last quarter. Norges Bank acquired a new stake in Rush Enterprises during the 4th quarter worth approximately $12,174,000. Geode Capital Management LLC increased its stake in Rush Enterprises by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $18,084,000 after acquiring an additional 13,422 shares during the period. Finally, Calamos Advisors LLC bought a new position in Rush Enterprises during the 1st quarter worth $512,000. 75.08% of the stock is owned by institutional investors.
A number of equities analysts have commented on RUSHA shares. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, June 6th. ValuEngine upgraded Rush Enterprises from a “strong sell” rating to a “sell” rating in a research note on Friday, July 26th. Longbow Research lowered Rush Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, May 6th. Finally, BidaskClub upgraded Rush Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, July 24th. The company reported $1.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.10. The firm had revenue of $1.54 billion for the quarter. Rush Enterprises had a return on equity of 15.50% and a net margin of 2.88%. Equities research analysts forecast that Rush Enterprises, Inc. will post 4.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, August 8th. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.39%. Rush Enterprises’s payout ratio is presently 13.51%.
Rush Enterprises Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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