Rush Enterprises, Inc. $RUSHA Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 145.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,100 shares of the company's stock after buying an additional 97,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.21% of Rush Enterprises worth $10,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC raised its holdings in shares of Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the period. CIBC Private Wealth Group LLC boosted 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 acquiring an additional 431 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Rush Enterprises in the third quarter valued at about $34,000. Finally, Allworth Financial LP increased its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after purchasing an additional 637 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Down 0.2%

Shares of NASDAQ:RUSHA opened at $79.79 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.77 and a beta of 0.89. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $83.50. The business has a 50-day moving average price of $72.57 and a 200 day moving average price of $69.89. The company has a current ratio of 1.45, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

Shares of Rush Enterprises are set to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises's payout ratio is 22.89%.

More Rush Enterprises News

Here are the key news stories impacting Rush Enterprises this week:

• Positive Sentiment: Rush Enterprises reported quarterly EPS of $0.91, exceeding the $0.86 analyst consensus, while revenue of $1.90 billion also topped the $1.89 billion estimate. The earnings beat helped drive shares to a new one-year high. Rush Enterprises Sets New 1-Year High on Earnings Beat
• Positive Sentiment: Stephens raised its price target from $90 to $95 and maintained an “overweight” rating, implying roughly 19% potential upside from the referenced share price. The upgrade reflects confidence in Rush’s diversified business model and earnings prospects. Stephens Price Target Update
• Positive Sentiment: Analyst coverage and post-earnings reviews highlighted steady results across Rush’s diversified operations and signs of an early recovery in the commercial-vehicle market, supporting continued investor interest. RUSHA Q2 Deep Dive
• Neutral Sentiment: Rush Enterprises plans a 3-for-2 stock split, with additional shares distributed to existing shareholders after the specified record-date market close and trading on a split-adjusted basis afterward. The split does not alter shareholders’ underlying ownership value or the company’s fundamentals, but it could improve share affordability and liquidity. Reports provided different effective dates—August 11 and September 1—so investors should confirm the final schedule with the company or exchange. Rush Enterprises Shares Set to Split

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RUSHA. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, June 14th. Stephens increased their price target on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday. Weiss Ratings upgraded shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target on the stock. Finally, UBS Group upped their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rush Enterprises has an average rating of "Moderate Buy" and a consensus price target of $87.00.

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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