Vaughan Nelson Investment Management L.P. Trims Stake in Rush Enterprises, Inc. $RUSHA

Vaughan Nelson Investment Management L.P. reduced its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 27.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 554,746 shares of the company’s stock after selling 206,320 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Rush Enterprises were worth $36,674,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its position in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the third quarter valued at approximately $34,000. Allworth Financial LP boosted its position in shares of Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Rush Enterprises in the fourth quarter worth $37,000. 84.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $70.11 on Monday. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99. The company’s 50-day moving average is $70.61 and its 200 day moving average is $65.94.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s payout ratio is presently 22.96%.

Wall Street Analyst Weigh In

RUSHA has been the subject of a number of research reports. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. UBS Group boosted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Finally, Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.67.

Rush Enterprises Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.