Tocqueville Asset Management L.P. Has $7.47 Million Position in Rush Enterprises, Inc. (RUSHA)
Tocqueville Asset Management L.P. lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,458 shares of the company’s stock after selling 4,954 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.41% of Rush Enterprises worth $7,474,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Rush Enterprises by 3.6% during the 1st quarter. Ameriprise Financial Inc. now owns 51,292 shares of the company’s stock valued at $1,697,000 after purchasing an additional 1,798 shares during the period. TIAA CREF Investment Management LLC raised its stake in Rush Enterprises by 51.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 187,952 shares of the company’s stock valued at $6,217,000 after acquiring an additional 63,940 shares in the last quarter. Convergence Investment Partners LLC raised its stake in Rush Enterprises by 4.3% during the 2nd quarter. Convergence Investment Partners LLC now owns 34,761 shares of the company’s stock valued at $1,292,000 after acquiring an additional 1,427 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Rush Enterprises by 10.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 258,038 shares of the company’s stock valued at $8,536,000 after acquiring an additional 24,038 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Rush Enterprises by 110.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,325 shares of the company’s stock valued at $507,000 after acquiring an additional 8,037 shares in the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.
In related news, CEO William M. Rusty Rush sold 10,906 shares of Rush Enterprises stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total value of $558,823.44. Following the transaction, the chief executive officer now directly owns 96,155 shares in the company, valued at approximately $4,926,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derrek Weaver sold 26,732 shares of Rush Enterprises stock in a transaction on Friday, October 27th. The stock was sold at an average price of $52.13, for a total value of $1,393,539.16. Following the completion of the transaction, the executive vice president now owns 14,733 shares in the company, valued at $768,031.29. The disclosure for this sale can be found here. 11.19% of the stock is currently owned by insiders.
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Shares of Rush Enterprises, Inc. (RUSHA) opened at $50.60 on Friday. Rush Enterprises, Inc. has a 12 month low of $24.66 and a 12 month high of $54.11. The company has a quick ratio of 0.28, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2,013.02, a price-to-earnings ratio of 26.22, a PEG ratio of 1.62 and a beta of 1.20.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a return on equity of 8.95% and a net margin of 1.74%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. research analysts forecast that Rush Enterprises, Inc. will post 2.08 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $50.00 target price (up previously from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, October 30th. ValuEngine downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.00.
About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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