Wambolt & Associates LLC Cuts Stake in Rush Enterprises, Inc. $RUSHA

Wambolt & Associates LLC cut its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 12.2% during the second quarter, HoldingsChannel.com reports. The firm owned 19,370 shares of the company’s stock after selling 2,697 shares during the period. Wambolt & Associates LLC’s holdings in Rush Enterprises were worth $1,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its stake in Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after buying an additional 714,253 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Rush Enterprises by 303.4% in the second quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock worth $18,179,000 after acquiring an additional 265,432 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Rush Enterprises during the first quarter worth about $9,667,000. Jane Street Group LLC increased its holdings in shares of Rush Enterprises by 605.6% during the first quarter. Jane Street Group LLC now owns 153,189 shares of the company’s stock valued at $8,182,000 after acquiring an additional 131,480 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Rush Enterprises by 12.0% in the 1st quarter. Northern Trust Corp now owns 879,554 shares of the company’s stock valued at $46,977,000 after purchasing an additional 94,271 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $51.81 on Wednesday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.44 and a beta of 0.91. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $65.43. The firm’s 50 day simple moving average is $51.23 and its 200-day simple moving average is $52.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.61%. The firm had revenue of $1.23 billion during the quarter. Analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th will be given a $0.19 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. Rush Enterprises’s dividend payout ratio is 22.55%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RUSHA shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Stephens cut their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Zacks Research cut Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rush Enterprises has a consensus rating of “Hold” and an average target price of $55.00.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.