Synovus Financial Corp Has $1.40 Million Stock Holdings in Rush Enterprises, Inc. $RUSHA

Synovus Financial Corp boosted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,194 shares of the company’s stock after purchasing an additional 5,073 shares during the quarter. Synovus Financial Corp’s holdings in Rush Enterprises were worth $1,399,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RUSHA. Jennison Associates LLC grew its holdings in Rush Enterprises by 73.3% in the first quarter. Jennison Associates LLC now owns 882,911 shares of the company’s stock worth $47,156,000 after purchasing an additional 373,531 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rush Enterprises during the fourth quarter valued at about $10,628,000. Nuveen LLC acquired a new position in shares of Rush Enterprises during the first quarter valued at about $9,667,000. Millennium Management LLC grew its holdings in shares of Rush Enterprises by 116.5% during the fourth quarter. Millennium Management LLC now owns 299,038 shares of the company’s stock valued at $16,384,000 after buying an additional 160,922 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Rush Enterprises by 423.4% during the first quarter. American Century Companies Inc. now owns 132,259 shares of the company’s stock valued at $7,064,000 after buying an additional 106,991 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the sale, the senior vice president owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the sale, the chief operating officer directly owned 79,692 shares in the company, valued at approximately $4,426,890.60. This represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,480 shares of company stock valued at $862,104. Company insiders own 12.28% of the company’s stock.

Rush Enterprises Stock Up 0.0%

RUSHA opened at $58.19 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The company’s 50-day moving average is $54.07 and its 200 day moving average is $53.32. Rush Enterprises, Inc. has a fifty-two week low of $46.30 and a fifty-two week high of $65.43. The firm has a market capitalization of $4.53 billion, a P/E ratio of 16.58, a PEG ratio of 1.64 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. Research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be given a $0.19 dividend. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Rush Enterprises’s payout ratio is presently 21.65%.

Wall Street Analyst Weigh In

RUSHA has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $61.00.

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.