Synovus Financial Corp Has $1.16 Million Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Synovus Financial Corp boosted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,121 shares of the company's stock after buying an additional 4,882 shares during the quarter. Synovus Financial Corp's holdings in Rush Enterprises were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in RUSHA. Sterling Capital Management LLC grew its position in shares of Rush Enterprises by 833.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock valued at $107,000 after purchasing an additional 1,751 shares during the last quarter. Martingale Asset Management L P raised its stake in Rush Enterprises by 3.3% during the fourth quarter. Martingale Asset Management L P now owns 50,705 shares of the company's stock worth $2,778,000 after purchasing an additional 1,620 shares during the period. Legal & General Group Plc increased its stake in Rush Enterprises by 0.6% during the fourth quarter. Legal & General Group Plc now owns 178,020 shares of the company's stock worth $9,754,000 after acquiring an additional 1,123 shares during the last quarter. Bank of Montreal Can raised its holdings in Rush Enterprises by 9.1% in the fourth quarter. Bank of Montreal Can now owns 10,688 shares of the company's stock valued at $586,000 after buying an additional 895 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Rush Enterprises by 25.3% during the 4th quarter. Wells Fargo & Company MN now owns 37,112 shares of the company's stock valued at $2,033,000 after acquiring an additional 7,483 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens restated an "overweight" rating and issued a $69.00 price target on shares of Rush Enterprises in a report on Wednesday, February 19th.

Rush Enterprises Stock Performance

Shares of RUSHA traded up $0.38 during mid-day trading on Friday, reaching $51.77. 462,893 shares of the company's stock traded hands, compared to its average volume of 362,242. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. Rush Enterprises, Inc. has a 12 month low of $40.99 and a 12 month high of $65.43. The business's 50-day moving average price is $54.85 and its 200-day moving average price is $56.72. The stock has a market capitalization of $4.10 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. Equities analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.39%. Rush Enterprises's dividend payout ratio is 19.30%.

Insider Buying and Selling

In other news, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total transaction of $634,837.50. Following the completion of the transaction, the senior vice president now directly owns 3,117 shares in the company, valued at $175,892.31. The trade was a 78.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Mcroberts sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the completion of the sale, the director now owns 15,771 shares of the company's stock, valued at $922,918.92. This represents a 20.23 % decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises 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.