Bank of New York Mellon Corp Has $31.90 Million Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Bank of New York Mellon Corp reduced its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 597,191 shares of the company’s stock after selling 26,912 shares during the period. Bank of New York Mellon Corp owned approximately 0.75% of Rush Enterprises worth $31,896,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RUSHA. Tower Research Capital LLC TRC increased its holdings in shares of Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock valued at $62,000 after acquiring an additional 616 shares in the last quarter. GAMMA Investing LLC increased its stake in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after acquiring an additional 288 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock worth $79,000 after purchasing an additional 596 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Rush Enterprises by 833.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company’s stock worth $107,000 after purchasing an additional 1,751 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Rush Enterprises during the 4th quarter valued at $210,000. 84.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on RUSHA shares. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday. Stephens decreased their price target on Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Friday, May 2nd.

Rush Enterprises Stock Down 3.3%

Shares of NASDAQ RUSHA opened at $52.09 on Wednesday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.52 and a beta of 0.88. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The stock’s 50-day simple moving average is $51.09 and its 200-day simple moving average is $54.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. As a group, equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, May 12th. Rush Enterprises’s payout ratio is 20.11%.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the completion of the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jason Wilder sold 748 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer directly owned 84,672 shares of the company’s stock, valued at $4,748,405.76. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,731 shares of company stock worth $303,634. 12.28% of the stock is currently owned by corporate insiders.

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.