American International Group Inc. grew its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,417 shares of the company’s stock after acquiring an additional 310 shares during the quarter. American International Group Inc.’s holdings in Rush Enterprises were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Rush Enterprises during the 1st quarter worth $24,697,000. State Street Corp raised its stake in Rush Enterprises by 2.8% in the 1st quarter. State Street Corp now owns 643,742 shares of the company’s stock valued at $20,548,000 after acquiring an additional 17,837 shares during the period. New South Capital Management Inc. raised its stake in Rush Enterprises by 6.6% in the 1st quarter. New South Capital Management Inc. now owns 637,181 shares of the company’s stock valued at $20,339,000 after acquiring an additional 39,299 shares during the period. Geode Capital Management LLC grew its holdings in Rush Enterprises by 0.3% during the 1st quarter. Geode Capital Management LLC now owns 545,024 shares of the company’s stock valued at $17,397,000 after buying an additional 1,839 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in Rush Enterprises during the 1st quarter valued at about $13,262,000. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RUSHA opened at $49.49 on Wednesday. The firm has a market cap of $1.80 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.65 and a beta of 1.43. The stock has a 50 day simple moving average of $49.25 and a two-hundred day simple moving average of $40.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.20 and a quick ratio of 0.34. Rush Enterprises, Inc. has a 1 year low of $27.25 and a 1 year high of $51.23.
Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, July 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.52. Rush Enterprises had a return on equity of 8.84% and a net margin of 1.97%. The business had revenue of $1 billion during the quarter. On average, equities analysts anticipate that Rush Enterprises, Inc. will post 1.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 7th were given a $0.14 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 1.13%. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.13. Rush Enterprises’s payout ratio is presently 14.85%.
In other news, CEO William M. Rusty Rush sold 41,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $49.03, for a total value of $2,034,745.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Mcroberts sold 3,500 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $48.28, for a total value of $168,980.00. The disclosure for this sale can be found here. Insiders sold 180,334 shares of company stock valued at $8,773,660 in the last quarter. Corporate insiders own 12.49% of the company’s stock.
A number of research firms have weighed in on RUSHA. Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a report on Saturday, July 25th. BMO Capital Markets lifted their target price on Rush Enterprises from $35.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 24th. ValuEngine raised Rush Enterprises from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. BidaskClub raised Rush Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, Credit Suisse Group initiated coverage on Rush Enterprises in a report on Friday, July 24th. They set a “hold” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.80.
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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