M&T Bank Corp Lowers Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

M&T Bank Corp lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,376 shares of the company’s stock after selling 304 shares during the quarter. M&T Bank Corp’s holdings in Rush Enterprises were worth $284,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RUSHA. Arizona State Retirement System increased its stake in Rush Enterprises by 2.2% in the second quarter. Arizona State Retirement System now owns 17,296 shares of the company’s stock valued at $724,000 after purchasing an additional 367 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Rush Enterprises by 5.0% in the 3rd 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 period. The Manufacturers Life Insurance Company increased its stake in shares of Rush Enterprises by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock valued at $1,477,000 after acquiring an additional 405 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after acquiring an additional 469 shares during the period. Finally, QRG Capital Management Inc. boosted its position 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 last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Trading Down 1.5 %

Shares of RUSHA opened at $55.40 on Friday. Rush Enterprises, Inc. has a twelve month low of $40.99 and a twelve month high of $65.15. The firm has a market capitalization of $4.38 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. 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 stock’s fifty day simple moving average is $58.55 and its 200 day simple moving average is $51.82.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.96 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 3.64 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.30%. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the transaction, the chief financial officer now owns 83,365 shares of the company’s stock, valued at $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $11,167,173 over the last 90 days. Corporate insiders own 12.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.