Atria Investments Inc Lowers Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Atria Investments Inc decreased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,718 shares of the company’s stock after selling 1,465 shares during the period. Atria Investments Inc’s holdings in Rush Enterprises were worth $883,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Essex Savings Bank bought a new position in Rush Enterprises in the 3rd quarter worth $214,000. Verdence Capital Advisors LLC boosted its position in shares of Rush Enterprises by 5.0% during the third 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. QRG Capital Management Inc. grew its stake in shares of Rush Enterprises by 3.7% in the third quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock worth $717,000 after acquiring an additional 484 shares during the period. Harbor Capital Advisors Inc. grew its position in Rush Enterprises by 127.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,171 shares of the company’s stock worth $1,700,000 after purchasing an additional 18,033 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Rush Enterprises by 73.8% in the third quarter. Farther Finance Advisors LLC now owns 1,479 shares of the company’s stock worth $78,000 after acquiring an additional 628 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $60.66 on Monday. The stock has a 50 day moving average of $54.04 and a 200 day moving average of $49.30. Rush Enterprises, Inc. has a 12 month low of $38.10 and a 12 month high of $65.15. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The firm has a market cap of $4.78 billion, a PE ratio of 16.09, a PEG ratio of 2.29 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Insider Transactions at Rush Enterprises

In other news, SVP Jason Wilder sold 4,500 shares of Rush Enterprises stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total transaction of $232,560.00. Following the completion of the sale, the senior vice president now directly owns 534 shares in the company, valued at approximately $27,597.12. The trade was a 89.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven L. Keller sold 14,625 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.50, for a total value of $855,562.50. Following the completion of the sale, the chief financial officer now owns 83,365 shares in the company, valued at approximately $4,876,852.50. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,500 shares of company stock valued at $13,552,133. Company insiders own 12.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens upped their price objective on Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

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.