BlackRock Inc. trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,029,663 shares of the company’s stock after selling 148,356 shares during the quarter. BlackRock Inc. owned 5.45% of Rush Enterprises worth $131,002,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Rush Enterprises during the first quarter worth $209,000. New York State Common Retirement Fund raised its holdings in shares of Rush Enterprises by 2.6% during the first quarter. New York State Common Retirement Fund now owns 102,820 shares of the company’s stock worth $5,124,000 after acquiring an additional 2,600 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Rush Enterprises during the first quarter worth $233,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Rush Enterprises by 13.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,854 shares of the company’s stock worth $408,000 after acquiring an additional 1,154 shares during the period. Finally, UBS Group AG raised its holdings in shares of Rush Enterprises by 29.1% during the first quarter. UBS Group AG now owns 26,034 shares of the company’s stock worth $1,297,000 after acquiring an additional 5,870 shares during the period. 73.26% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on RUSHA. Credit Suisse Group lifted their price target on shares of Rush Enterprises from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, July 22nd. Zacks Investment Research downgraded shares of Rush Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, October 5th. Finally, BMO Capital Markets lifted their price objective on shares of Rush Enterprises from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, July 22nd.
Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Monday, July 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.82 by $0.18. The company had revenue of $1.32 billion during the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 13.81%. Equities analysts expect that Rush Enterprises, Inc. will post 3.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 9th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.59%. Rush Enterprises’s payout ratio is presently 37.25%.
About Rush Enterprises
Rush Enterprises, Inc engages in the provision of commercial vehicle industry solutions through its network of commercial vehicle dealerships The firm provides an integrated, one-stop approach to the service and sales of new and used heavy- and medium-duty trucks, aftermarket parts, service, collision center capabilities, chrome accessories, tires, engineered vehicle modification solutions, and a range of financial services including financing, insurance and leasing, and rental options.
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