170,716 Shares in Rush Enterprises, Inc. $RUSHA Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the first quarter, Holdings Channel.com reports. The fund purchased 170,716 shares of the company’s stock, valued at approximately $11,286,000.

Several other large investors have also bought and sold shares of the stock. Root Financial Partners LLC boosted its holdings in Rush Enterprises by 75.4% during the 1st 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 last quarter. CIBC Private Wealth Group LLC boosted its holdings in Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA boosted its holdings in Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises in the 3rd quarter worth about $34,000. Finally, Allworth Financial LP grew its position in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RUSHA. UBS Group lifted their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock 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. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target for the company. Weiss Ratings lowered Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Hold” and a consensus target price of $83.67.

Insider Activity at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction 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 transaction, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.68% of the stock is owned by corporate insiders.

Rush Enterprises Stock Down 2.6%

Rush Enterprises stock opened at $74.92 on Tuesday. The firm has a 50 day moving average price of $71.06 and a 200-day moving average price of $68.58. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month high of $80.17. The company has a market capitalization of $5.82 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.65 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.73 billion. As a group, equities analysts predict 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. Shareholders of record on Tuesday, May 12th were paid a $0.19 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Rush Enterprises’s payout ratio is presently 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.