Synovus Financial Corp Boosts Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Synovus Financial Corp boosted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 30.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,121 shares of the company's stock after acquiring an additional 4,882 shares during the quarter. Synovus Financial Corp's holdings in Rush Enterprises were worth $1,157,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Rush Enterprises by 1,398.4% in the 4th quarter. Jennison Associates LLC now owns 509,380 shares of the company's stock worth $27,909,000 after purchasing an additional 475,384 shares during the period. Proficio Capital Partners LLC lifted its position in Rush Enterprises by 5,379.0% during the 4th quarter. Proficio Capital Partners LLC now owns 334,822 shares of the company's stock worth $18,345,000 after acquiring an additional 328,711 shares during the period. Norges Bank acquired a new position in shares of Rush Enterprises during the fourth quarter valued at approximately $10,127,000. Raymond James Financial Inc. acquired a new position in Rush Enterprises during the fourth quarter worth $9,822,000. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Rush Enterprises by 35.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company's stock worth $25,689,000 after purchasing an additional 121,577 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an "overweight" rating and issued a $69.00 price objective on shares of Rush Enterprises in a research report on Wednesday, February 19th.

Rush Enterprises Trading Down 3.9 %

NASDAQ:RUSHA traded down $2.03 during trading hours on Monday, hitting $49.74. The stock had a trading volume of 126,568 shares, compared to its average volume of 385,145. The business's 50 day moving average is $54.85 and its 200-day moving average is $56.81. Rush Enterprises, Inc. has a one year low of $40.99 and a one year high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.04 and a beta of 0.96.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. Sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Rush Enterprises's dividend payout ratio (DPR) is 19.30%.

Insider Transactions at Rush Enterprises

In related news, Director Michael Mcroberts sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the sale, the director now owns 15,771 shares of the company's stock, valued at approximately $922,918.92. This trade represents a 20.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the completion of the transaction, the senior vice president now directly owns 3,117 shares in the company, valued at $175,892.31. This represents a 78.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.53% of the company's stock.

Rush Enterprises Company 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.