Intech Investment Management LLC Sells 11,000 Shares of Rush Enterprises, Inc. $RUSHA

Intech Investment Management LLC lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 31.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,321 shares of the company’s stock after selling 11,000 shares during the quarter. Intech Investment Management LLC’s holdings in Rush Enterprises were worth $1,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Rush Enterprises by 0.3% during the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after acquiring an additional 6,994 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Rush Enterprises by 14.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock worth $63,054,000 after purchasing an additional 148,363 shares in the last quarter. American Century Companies Inc. grew its position in Rush Enterprises by 540.0% in the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after purchasing an additional 714,253 shares during the period. Global Alpha Capital Management Ltd. grew its position in Rush Enterprises by 4.5% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock valued at $43,469,000 after purchasing an additional 36,600 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Rush Enterprises by 91.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after purchasing an additional 301,119 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Down 3.9%

RUSHA opened at $66.03 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37. The company’s 50-day moving average is $65.46 and its 200 day moving average is $57.72. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $75.99. The firm has a market capitalization of $5.09 billion, a P/E ratio of 20.19, a PEG ratio of 0.84 and a beta of 0.91.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. Rush Enterprises’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RUSHA shares. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Stephens restated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. UBS Group reiterated a “neutral” rating and set a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rush Enterprises currently has an average rating of “Moderate Buy” and an average price target of $76.50.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total transaction of $566,480.00. Following the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $71.86, for a total value of $323,370.00. Following the completion of the transaction, the senior vice president directly owned 12,590 shares in the company, valued at approximately $904,717.40. This represents a 26.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,750 shares of company stock valued at $1,698,950. 12.28% of the stock is owned by insiders.

Rush Enterprises Company 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.