US Bancorp DE Sells 8,948 Shares of Rush Enterprises, Inc. $RUSHA

US Bancorp DE cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 36.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,283 shares of the company’s stock after selling 8,948 shares during the period. US Bancorp DE’s holdings in Rush Enterprises were worth $787,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after acquiring an additional 217 shares in the last quarter. AlphaQuest LLC purchased a new stake in Rush Enterprises during the 1st quarter valued at $30,000. Smartleaf Asset Management LLC raised its holdings in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock valued at $58,000 after buying an additional 227 shares during the period. GAMMA Investing LLC raised its holdings in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock valued at $68,000 after buying an additional 288 shares during the period. Finally, Cerity Partners LLC bought a new position in Rush Enterprises in the 1st quarter valued at $207,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RUSHA has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $61.00.

Insider Buying and Selling

In other news, Director Michael Mcroberts sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director directly owned 15,771 shares in the company, valued at $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the sale, the senior vice president owned 12,510 shares of the company’s stock, valued at $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock valued at $862,104 over the last ninety days. Company insiders own 12.28% of the company’s stock.

Rush Enterprises Trading Down 0.4%

Shares of NASDAQ:RUSHA opened at $50.91 on Friday. Rush Enterprises, Inc. has a 52-week low of $47.06 and a 52-week high of $65.43. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.45 and a beta of 0.89. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $55.53 and a 200-day moving average price of $52.98.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The firm had revenue of $1.23 billion during the quarter. Equities analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.5%. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 12th. Rush Enterprises’s dividend payout ratio is 21.65%.

About Rush Enterprises

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.