Thrivent Financial trims holdings in Rush Enterprises Inc. (NASDAQ:RUSHA)
Thrivent Financial for Lutherans has made a strategic move by reducing its holding in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.6% in the third quarter, according to their latest SEC filing. They now own 74,012 shares of the company’s stock, having sold 2,802 shares. This amounted to about 0.09% of Rush Enterprises’ total stock, valued at $3,910,000 during their most recent SEC filing.
Other institutional investors and hedge funds have also been active with their stakes in Rush Enterprises. O Shaughnessy Asset Management LLC, for instance, increased its position by 14.2% during the first quarter. They now own 14,174 shares valued at $759,000. Similarly, CANADA LIFE ASSURANCE Co and Price T Rowe Associates Inc. MD have added to their positions in the company, along with Castleark Management LLC and EMC Capital Management.
It’s also worth noting that insiders within Rush Enterprises have made significant transactions recently. CEO, William M. Rusty Rush, sold 117,500 shares of the company’s stock, while CFO Steven L. Keller offloaded 14,625 shares. These transactions have impacted their ownership positions within the company.
Financial analysts have responded positively to recent developments, with Stephens increasing their target price on Rush Enterprises stock. They have set an “overweight” rating, reflecting confidence in the company’s performance.
Looking at the numbers, Rush Enterprises’ stock has been trading up by 1.1%, currently at $60.00. The company has a market cap of $4.74 billion, with a PE ratio of 15.92 and a beta of 0.99. Their recent quarterly earnings results beat analyst estimates, with revenue reaching $1.90 billion.
Additionally, Rush Enterprises has announced a quarterly dividend, providing shareholders with a return on investment. This reflects the company’s commitment to its investors and financial stability.
In summary, Rush Enterprises, Inc. has demonstrated positive growth and stability, making it an attractive investment option in the commercial vehicles sector. Investors and analysts are optimistic about its future performance, reflecting overall confidence in the company’s strategic direction.
