Rush Enterprises, Inc. $RUSHA Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,044 shares of the company’s stock after selling 17,872 shares during the quarter. Granite Investment Partners LLC’s holdings in Rush Enterprises were worth $12,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. T. Rowe Price Investment Management Inc. increased its holdings in shares of Rush Enterprises by 1.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,218,650 shares of the company’s stock valued at $118,499,000 after buying an additional 41,407 shares in the last quarter. Jennison Associates LLC grew its stake in Rush Enterprises by 4.6% during the 2nd quarter. Jennison Associates LLC now owns 923,847 shares of the company’s stock valued at $47,587,000 after acquiring an additional 40,936 shares in the last quarter. Northern Trust Corp increased its stake in Rush Enterprises by 12.0% in the 1st quarter. Northern Trust Corp now owns 879,554 shares of the company’s stock valued at $46,977,000 after buying an additional 94,271 shares during the period. American Century Companies Inc. raised its holdings in shares of Rush Enterprises by 540.0% during the second quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after acquiring an additional 714,253 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of 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 buying an additional 36,600 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

RUSHA has been the topic of a number of recent analyst reports. Stephens cut their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Finally, Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.00.

Rush Enterprises Trading Up 1.2%

RUSHA opened at $52.71 on Tuesday. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The firm has a market cap of $4.06 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91. The firm’s fifty day moving average is $50.86 and its two-hundred day moving average is $52.75.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $1.23 billion during the quarter. Rush Enterprises had a return on equity of 12.61% and a net margin of 3.57%. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 12th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. Rush Enterprises’s dividend payout ratio is 22.55%.

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.