Harbor Capital Advisors Inc. Boosts Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Harbor Capital Advisors Inc. lifted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 127.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,171 shares of the company’s stock after purchasing an additional 18,033 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rush Enterprises were worth $1,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. William Blair Investment Management LLC boosted its stake in Rush Enterprises by 239.1% during the 1st quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock worth $42,515,000 after purchasing an additional 560,138 shares during the last quarter. Edgestream Partners L.P. grew its stake in Rush Enterprises by 678.7% during the 2nd quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock valued at $5,468,000 after acquiring an additional 113,831 shares in the last quarter. Cooke & Bieler LP raised its holdings in Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after acquiring an additional 100,318 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Rush Enterprises in the 2nd quarter worth approximately $41,000. Finally, Castleark Management LLC acquired a new position in shares of Rush Enterprises during the 1st quarter worth approximately $4,637,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens increased their price target on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Trading Up 2.4 %

Shares of RUSHA stock opened at $59.50 on Wednesday. Rush Enterprises, Inc. has a twelve month low of $36.83 and a twelve month high of $60.55. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.17 and a beta of 0.99. The company’s 50-day moving average price is $52.03 and its 200-day moving average price is $48.29. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insider Activity

In other news, SVP Michael L. Goldstone sold 7,875 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $51.25, for a total value of $403,593.75. Following the sale, the senior vice president now directly owns 12,238 shares of the company’s stock, valued at approximately $627,197.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Michael L. Goldstone sold 7,875 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $51.25, for a total transaction of $403,593.75. Following the completion of the transaction, the senior vice president now directly owns 12,238 shares in the company, valued at $627,197.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Mcroberts sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock valued at $4,278,116 in the last quarter. Insiders own 12.53% of the company’s stock.

Rush Enterprises 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.