Corebridge Financial Inc. Trims Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Corebridge Financial Inc. reduced its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,446 shares of the company’s stock after selling 2,517 shares during the period. Corebridge Financial Inc.’s holdings in Rush Enterprises were worth $1,778,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in shares of Rush Enterprises by 1,398.4% during the fourth quarter. Jennison Associates LLC now owns 509,380 shares of the company’s stock worth $27,909,000 after purchasing an additional 475,384 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Rush Enterprises by 5,379.0% in the fourth quarter. Proficio Capital Partners LLC now owns 334,822 shares of the company’s stock valued at $18,345,000 after purchasing an additional 328,711 shares during the period. Janus Henderson Group PLC grew its holdings in Rush Enterprises by 148.1% during the 3rd quarter. Janus Henderson Group PLC now owns 308,204 shares of the company’s stock valued at $16,282,000 after purchasing an additional 183,965 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Rush Enterprises during the 4th quarter worth $9,822,000. Finally, Strategic Financial Concepts LLC acquired a new position in Rush Enterprises in the 4th quarter worth $5,760,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $56.03 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. 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 simple moving average of $57.33 and a 200-day simple moving average of $56.86.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Monday, March 3rd. Rush Enterprises’s dividend payout ratio (DPR) is 19.30%.

Insider Activity at Rush Enterprises

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

Analyst Upgrades and Downgrades

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

Rush Enterprises Company Profile

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.