Thrivent Financial reduces holdings in Rush Enterprises, Inc. (NASDAQ: RUSHA)
Thrivent Financial for Lutherans has decided to reduce its investment in Rush Enterprises, Inc. (NASDAQ: RUSHA) by 3.6% during the third quarter. Following this move, the institutional investor now holds 74,012 shares of the company’s stock after selling 2,802 shares. This position is valued at approximately $3,910,000 based on their most recent filing with the SEC.
Alongside Thrivent Financial for Lutherans, several other institutional investors and hedge funds have either increased or decreased their stakes in Rush Enterprises. For example, O Shaughnessy Asset Management LLC raised their position by 14.2% during the first quarter, now owning 14,174 shares valued at $759,000. Similarly, CANADA LIFE ASSURANCE Co raised its position by 3.8% in the first quarter, holding 83,642 shares worth $4,471,000.
Additionally, there have been notable insider transactions within Rush Enterprises. CEO William M. Rusty Rush recently sold 117,500 shares of the company’s stock at an average price of $63.98 per share, totaling $7,517,650.00. CFO Steven L. Keller also sold 14,625 shares at $58.50 per share. In the last ninety days, insiders have collectively sold 176,000 shares of company stock, representing about 12.53% of the total stock ownership by corporate insiders.
Regarding the company’s performance, analysts have upgraded their target price for Rush Enterprises, with Stephens increasing it from $66.00 to $69.00 and rating the stock as “overweight.”
As of Monday, shares of Rush Enterprises stock traded at $60.00, with a market capitalization of $4.74 billion, a PE ratio of 15.92, and a beta of 0.99. The company’s financials for the last quarter show earnings per share of $0.97, beating the consensus estimate by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%, with $1.90 billion in revenue during the quarter.
Lastly, Rush Enterprises recently announced a quarterly dividend to be paid on Thursday, December 12th. Shareholders of record on November 12th will receive a dividend of $0.18 per share, indicating an annualized dividend of $0.72 per share and a yield of 1.20%. Rush Enterprises’s current payout ratio is at 19.10%.
Rush Enterprises, Inc. operates as an integrated retailer of commercial vehicles and related services in the US and Canada through its subsidiaries. The company runs a network of commercial vehicle dealerships under the Rush Truck Centers name, where they sell vehicles from various manufacturers like Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.
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