Meeder Asset Management Inc. increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 201.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,319 shares of the company’s stock after purchasing an additional 6,897 shares during the period. Meeder Asset Management Inc.’s holdings in Rush Enterprises were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC increased its holdings in Rush Enterprises by 61.5% in the second quarter. FNY Investment Advisers LLC now owns 1,050 shares of the company’s stock valued at $38,000 after buying an additional 400 shares in the last quarter. Optimum Investment Advisors purchased a new position in Rush Enterprises in the first quarter valued at $50,000. Quantamental Technologies LLC purchased a new position in Rush Enterprises in the first quarter valued at $95,000. SG Americas Securities LLC purchased a new position in Rush Enterprises in the first quarter valued at $126,000. Finally, Financial Counselors Inc. purchased a new position in Rush Enterprises in the first quarter valued at $266,000. 73.76% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of Rush Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, July 26th. BidaskClub upgraded shares of Rush Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Longbow Research lowered shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.00.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, July 24th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.10. The business had revenue of $1.54 billion for the quarter. Rush Enterprises had a net margin of 2.88% and a return on equity of 15.38%. Equities research analysts anticipate that Rush Enterprises, Inc. will post 4.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, August 8th. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. Rush Enterprises’s payout ratio is presently 13.51%.
About Rush Enterprises
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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