Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 624,103 shares of the company’s stock after acquiring an additional 3,386 shares during the quarter. Bank of New York Mellon Corp owned about 0.79% of Rush Enterprises worth $34,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at about $316,000. Farther Finance Advisors LLC raised its stake in shares of Rush Enterprises by 73.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,479 shares of the company’s stock valued at $78,000 after buying an additional 628 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Rush Enterprises by 3.7% during the 3rd quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock valued at $717,000 after buying an additional 484 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Rush Enterprises by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock valued at $411,000 after buying an additional 370 shares during the last quarter. Finally, Essex Savings Bank purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at about $214,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $55.40 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a twelve month low of $40.99 and a twelve month high of $65.43. The business has a 50-day moving average price of $58.27 and a 200 day moving average price of $56.36. The firm has a market cap of $4.39 billion, a PE ratio of 14.85, a P/E/G ratio of 1.04 and a beta of 1.06.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd will be paid a $0.18 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. Rush Enterprises’s dividend payout ratio is presently 19.30%.

Insider Activity at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total value of $634,837.50. Following the sale, the senior vice president now directly owns 3,117 shares in the company, valued at approximately $175,892.31. The trade was a 78.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the completion of the sale, the director now owns 15,771 shares in the company, valued at approximately $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Stephens reiterated an “overweight” rating and set a $69.00 price objective on shares of Rush Enterprises in a research note on Wednesday, February 19th.

About Rush Enterprises

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.