PNC Financial Services Group Inc. Buys 596 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

PNC Financial Services Group Inc. increased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 71.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,435 shares of the company’s stock after acquiring an additional 596 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rush Enterprises were worth $79,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RUSHA. GAMMA Investing LLC increased its holdings in shares of Rush Enterprises by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock valued at $54,000 after acquiring an additional 192 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Rush Enterprises by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 30,100 shares of the company’s stock valued at $1,649,000 after purchasing an additional 200 shares during the period. Harbor Capital Advisors Inc. increased its stake in Rush Enterprises by 1.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 32,516 shares of the company’s stock valued at $1,782,000 after purchasing an additional 345 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Rush Enterprises by 4.3% during the fourth quarter. QRG Capital Management Inc. now owns 14,142 shares of the company’s stock worth $775,000 after buying an additional 578 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Rush Enterprises by 475.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock valued at $46,000 after buying an additional 703 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $55.68 on Wednesday. Rush Enterprises, Inc. has a 52 week low of $40.99 and a 52 week high of $65.43. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $57.97 and a 200-day moving average price of $56.65. The company has a market cap of $4.41 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly 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 business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 3rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, March 3rd. Rush Enterprises’s payout ratio is currently 19.30%.

Analyst Upgrades and Downgrades

Separately, Stephens restated an “overweight” rating and issued a $69.00 target price on shares of Rush Enterprises in a report 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.