S&CO Inc. Takes $2.29 Million Position in Rush Enterprises, Inc. $RUSHA

S&CO Inc. acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 9,643 shares of the company’s stock, valued at approximately $2,288,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RUSHA. Root Financial Partners LLC increased its holdings in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares in the last quarter. Private Trust Co. NA lifted its holdings in Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after buying an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises during the 3rd quarter worth about $34,000. Finally, Allworth Financial LP boosted its position in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $58.67 price target on the stock. Stephens increased their price target on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rush Enterprises has an average rating of “Moderate Buy” and an average price target of $58.00.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven L. Keller sold 31,017 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $53.82, for a total transaction of $1,669,334.94. Following the completion of the sale, the chief financial officer owned 126,561 shares in the company, valued at $6,811,513.02. This represents a 19.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 3,600 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $54.03, for a total transaction of $194,520.00. Following the transaction, the senior vice president directly owned 18,885 shares in the company, valued at $1,020,419.50. The trade was a 16.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 168,375 shares of company stock valued at $9,092,352. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $82.23 on Friday. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $83.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.82 and a beta of 0.87. The stock’s 50-day moving average is $52.25 and its two-hundred day moving average is $48.26.

Shares of Rush Enterprises are set to split on the morning of Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. Analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is presently 16.87%.

About Rush Enterprises

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.