M&T Bank Corp Boosts Stock Position in Rush Enterprises, Inc. $RUSHA

M&T Bank Corp grew its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 322.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,956 shares of the company's stock after buying an additional 16,753 shares during the period. M&T Bank Corp's holdings in Rush Enterprises were worth $1,184,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RUSHA. Farther Finance Advisors LLC lifted its position in shares of Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company's stock valued at $27,000 after buying an additional 365 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after buying an additional 431 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after buying an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at about $34,000. Finally, Allworth Financial LP lifted its position in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after buying an additional 637 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RUSHA shares. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Wolfe Research started coverage on Rush Enterprises in a research report on Monday. They set an "outperform" rating and a $88.00 price objective on the stock. Zacks Research cut Rush Enterprises from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Stephens reissued an "overweight" rating and issued a $85.00 price target (up from $80.00) on shares of Rush Enterprises in a report on Thursday. Finally, UBS Group boosted their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rush Enterprises has an average rating of "Hold" and a consensus target price of $83.67.

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $74.03 on Friday. The company has a market cap of $5.70 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The business's 50 day moving average price is $69.00 and its 200-day moving average price is $61.09. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Rush Enterprises's payout ratio is currently 22.96%.

Insider Buying and Selling

In other news, Director Raymond Joseph Chess sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the transaction, the director owned 41,170 shares of the company's stock, valued at approximately $2,678,108.50. The trade was a 19.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total value of $566,480.00. Following the transaction, the director directly owned 16,229 shares in the company, valued at approximately $1,149,175.49. This represents a 33.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,750 shares of company stock worth $2,349,450. 12.68% of the stock is owned by company insiders.

Rush Enterprises Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.

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