Bank of New York Mellon Corp Decreases Stock Holdings in Rush Enterprises, Inc. $RUSHA

Bank of New York Mellon Corp lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 546,109 shares of the company’s stock after selling 13,704 shares during the period. Bank of New York Mellon Corp’s holdings in Rush Enterprises were worth $36,103,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RUSHA. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research initiated coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. UBS Group upped their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Insider Buying and Selling

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.68% of the company’s stock.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $76.57 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The stock has a 50-day simple moving average of $71.54 and a two-hundred day simple moving average of $69.11. The firm has a market capitalization of $5.95 billion, a PE ratio of 23.13, a P/E/G ratio of 1.69 and a beta of 0.89. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $80.17.

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 return on equity of 11.87% and a net margin of 3.65%.The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Announces Dividend

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

Rush Enterprises 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.