Costello Asset Management INC Sells 37,128 Shares of Rush Enterprises, Inc. $RUSHA

Costello Asset Management INC lowered its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 96.4% during the 1st quarter, Holdings Channel reports. The firm owned 1,400 shares of the company’s stock after selling 37,128 shares during the quarter. Costello Asset Management INC’s holdings in Rush Enterprises were worth $93,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC increased its holdings in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Rush Enterprises by 1.1% during the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock valued at $966,000 after buying an additional 200 shares during the last quarter. California State Teachers Retirement System boosted its stake in Rush Enterprises by 0.4% during the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Rush Enterprises by 44.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock valued at $40,000 after buying an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock valued at $1,897,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’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 transaction of $577,840.00. Following the completion of the transaction, the director owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $75.48 on Friday. The firm has a market capitalization of $5.87 billion, a PE ratio of 22.80, a PEG ratio of 1.57 and a beta of 0.89. The stock’s fifty day moving average is $70.55 and its 200 day moving average is $67.63. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $76.99. 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 (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio is presently 22.96%.

Analysts Set New Price Targets

Several analysts have recently issued reports on RUSHA shares. Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Wolfe Research began coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings downgraded shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Rush Enterprises has an average rating of “Hold” and a consensus price target of $83.67.

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.