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

Fifth Third Bancorp increased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7,670.1% during the first quarter, HoldingsChannel.com reports. The fund owned 13,753 shares of the company’s stock after buying 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 Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in Rush Enterprises in the fourth quarter valued at $776,000. SG Americas Securities LLC boosted its stake in shares of Rush Enterprises by 63.9% during the fourth quarter. SG Americas Securities LLC now owns 27,040 shares of the company’s stock worth $1,459,000 after buying an additional 10,545 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Rush Enterprises by 7.6% during the fourth quarter. GW&K Investment Management LLC now owns 350,952 shares of the company’s stock worth $18,930,000 after buying an additional 24,781 shares during the period. Cooke & Bieler LP grew its holdings in shares of Rush Enterprises by 85.0% during the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after buying an additional 335,019 shares during the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Rush Enterprises by 10.0% during the fourth quarter. Denali Advisors LLC now owns 148,811 shares of the company’s stock worth $8,027,000 after buying an additional 13,515 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RUSHA. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a research note on Tuesday, May 19th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group lifted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Three research 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, Rush Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $76.57 on Monday. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $80.17. The company has a 50-day simple moving average of $71.54 and a 200-day simple moving average of $69.20. The company has a market capitalization of $5.95 billion, a PE ratio of 23.13, a P/E/G ratio of 1.69 and a beta of 0.89.

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

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors 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 annualized dividend and a yield of 1.0%. Rush Enterprises’s payout ratio is currently 22.96%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.68% of the company’s stock.

About Rush Enterprises

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.