Rush Enterprises Inc - said on July 25, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Previously, the company paid $0.21 per share.
Shares must be purchased before the ex-div date of September 6, 2023 to qualify for the dividend. Shareholders of record as of September 7, 2023 will receive the payment on September 22, 2023.
At the current share price of $64.68 / share, the stock's dividend yield is 1.05%.
What is the Fund Sentiment?
There are 557 funds or institutions reporting positions in Rush Enterprises Inc -. This is an increase of 7 owner(s) or 1.27% in the last quarter. Average portfolio weight of all funds dedicated to RUSHA is 0.24%, an increase of 0.99%. Total shares owned by institutions decreased in the last three months by 1.56% to 48,162K shares. 
The put/call ratio of RUSHA is 0.37, indicating a bullish outlook.
Analyst Price Forecast Suggests 15.65% Upside
As of July 6, 2023, the average one-year price target for Rush Enterprises Inc - is 74.80. The forecasts range from a low of 63.63 to a high of $89.25. The average price target represents an increase of 15.65% from its latest reported closing price of 64.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rush Enterprises Inc - is 7,206MM. The projected annual non-GAAP EPS is 5.25.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 4,188K shares. In it's prior filing, the firm reported owning 4,189K shares, representing a decrease of 0.02%. The firm decreased its portfolio allocation in RUSHA by 85.43% over the last quarter.
T. Rowe Price Investment Management holds 1,973K shares. In it's prior filing, the firm reported owning 1,786K shares, representing an increase of 9.47%. The firm increased its portfolio allocation in RUSHA by 7.79% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 1,735K shares. No change in the last quarter.
Jpmorgan Chase holds 1,613K shares. In it's prior filing, the firm reported owning 1,560K shares, representing an increase of 3.25%. The firm decreased its portfolio allocation in RUSHA by 0.25% over the last quarter.
Millennium Management holds 1,371K shares. In it's prior filing, the firm reported owning 1,217K shares, representing an increase of 11.26%. The firm increased its portfolio allocation in RUSHA by 21.98% over the last quarter.
Rush Enterprises Background Information
(This description is provided by the company.)
Rush Enterprises, Inc. is the premier solutions provider to the commercial vehicle industry. The Company owns and operates Rush Truck Centers, the largest network of commercial vehicle dealerships in the United States, with more than 100 dealership locations in 22 states. These vehicle centers, strategically located in high traffic areas on or near major highways throughout the United States, represent truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, Mitsubishi, IC Bus and Blue Bird. It offers an integrated approach to meeting customer needs - from sales of new and used vehicles to aftermarket parts, service and body shop operations plus financing, insurance, leasing and rental. Rush Enterprises' operations also provide CNG fuel systems, telematics products and other vehicle technologies, as well as vehicle up-fitting, chrome accessories and tires.
Additional reading:
- RUSH ENTERPRISES, INC. REPORTS SECOND QUARTER 2023 RESULTS, ANNOUNCES THREE-FOR-TWO STOCK SPLIT AND $0.17 PER SHARE DIVIDEND (POST-STOCK SPLIT)
- First Amendment to Fifth Amended and Restated Credit Agreement, dated as of May 31, 2023, by and among the Company and certain of its subsidiaries, the Lenders signatory thereto and BMO Harris Bank N.A., as administrative agent and collateral agent for the Lenders
- First Amendment to First Amended and Restated BMO Wholesale Financing and Security Agreement, dated as of May 31, 2023, by and among RTC-Canada and BMO
- Rush Enterprises, Inc. Investor Presentation
- Rush Enterprises, Inc. Amended and Restated 2007 Long-Term Incentive Plan.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
