Bank of New York Mellon Corp raised its position in Rush Enterprises (NASDAQ:RUSHB) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,242 shares of the company’s stock after buying an additional 1,268 shares during the period. Bank of New York Mellon Corp’s holdings in Rush Enterprises were worth $927,000 as of its most recent filing with the SEC.
Separately, Public Employees Retirement System of Ohio bought a new position in shares of Rush Enterprises during the 3rd quarter valued at approximately $107,000. Institutional investors own 10.35% of the company’s stock.
Separately, ValuEngine raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
Rush Enterprises stock opened at $40.81 on Wednesday. Rush Enterprises has a twelve month low of $31.92 and a twelve month high of $52.76. The company has a market cap of $1,635.15, a PE ratio of 18.24 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 1.17 and a debt-to-equity ratio of 0.51.
Rush Enterprises (NASDAQ:RUSHB) last released its earnings results on Wednesday, February 14th. The company reported $0.63 earnings per share for the quarter. Rush Enterprises had a net margin of 3.65% and a return on equity of 10.00%. The firm had revenue of $1.21 billion during the quarter.
Rush Enterprises declared that its board has approved a stock buyback program on Wednesday, March 14th that allows the company to repurchase $35.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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Rush Enterprises Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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