Commerzbank Aktiengesellschaft FI Invests $2.68 Million in Rush Enterprises, Inc. $RUSHA

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHAFree Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,284 shares of the company’s stock, valued at approximately $2,678,000.

Other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in shares of Rush Enterprises during the 2nd quarter worth about $996,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Rush Enterprises in the 2nd quarter valued at approximately $112,882,000. S&CO Inc. bought a new stake in shares of Rush Enterprises in the 2nd quarter valued at approximately $2,288,000. Baron Wealth Management LLC increased its holdings in Rush Enterprises by 22.4% in the second quarter. Baron Wealth Management LLC now owns 3,732 shares of the company’s stock worth $272,000 after buying an additional 682 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Rush Enterprises by 292.1% in the second quarter. Versant Capital Management Inc now owns 1,333 shares of the company’s stock worth $97,000 after buying an additional 993 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Insider Activity

In other Rush Enterprises news, CFO Steven L. Keller sold 31,017 shares of the company’s stock in a transaction dated 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 directly owned 126,561 shares in the company, valued at $6,811,513.02. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William M. Rusty Rush sold 107,361 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $54.03, for a total value of $5,801,072.70. Following the completion of the sale, the chief executive officer directly owned 261,231 shares in the company, valued at approximately $14,115,181.70. This represents a 29.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 168,375 shares of company stock worth $9,092,352. Insiders own 12.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RUSHA. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group lifted their price objective on shares of Rush Enterprises from $48.67 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Stephens upped their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

View Our Latest Report on Rush Enterprises

Rush Enterprises Stock Down 0.1%

RUSHA opened at $82.13 on Tuesday. The business has a 50 day moving average price of $53.00 and a 200 day moving average price of $48.59. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month 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 P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87.

Rush Enterprises shares are going to split before the market opens on Tuesday, September 1st. The 3-2 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Research analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.89%.

Rush Enterprises Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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