Verdence Capital Advisors LLC Grows Holdings in Rush Enterprises, Inc. $RUSHA

Verdence Capital Advisors LLC increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,084 shares of the company’s stock after buying an additional 280 shares during the period. Verdence Capital Advisors LLC’s holdings in Rush Enterprises were worth $468,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after acquiring an additional 288 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Rush Enterprises during the first quarter worth about $1,087,000. Wealth Enhancement Advisory Services LLC grew its stake in Rush Enterprises by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company’s stock worth $2,315,000 after purchasing an additional 2,131 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Rush Enterprises in the first quarter valued at about $237,000. Finally, Nilsine Partners LLC raised its stake in Rush Enterprises by 10.6% during the first quarter. Nilsine Partners LLC now owns 52,664 shares of the company’s stock valued at $2,813,000 after buying an additional 5,040 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Stephens restated an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. Finally, Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rush Enterprises currently has a consensus rating of “Buy” and an average price target of $61.00.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $51.37 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The firm has a market capitalization of $4.00 billion, a PE ratio of 14.64, a P/E/G ratio of 1.48 and a beta of 0.89. Rush Enterprises, Inc. has a 1-year low of $47.06 and a 1-year high of $65.43. The business’s fifty day moving average price is $55.69 and its two-hundred day moving average price is $53.04.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.23 billion during the quarter. On average, research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 12th. Rush Enterprises’s dividend payout ratio is presently 21.65%.

Insider Transactions at Rush Enterprises

In related news, COO Jason Wilder sold 4,980 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares of the company’s stock, valued at $4,426,890.60. This represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the sale, the senior vice president directly owned 12,510 shares in the company, valued at $716,197.50. The trade was a 26.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,480 shares of company stock worth $862,104. Company insiders own 12.28% 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.