Bank of New York Mellon Corp Sells 13,704 Shares of Rush Enterprises, Inc. $RUSHA

Bank of New York Mellon Corp lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 546,109 shares of the company’s stock after selling 13,704 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of Rush Enterprises worth $36,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Root Financial Partners LLC boosted its position in Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at approximately $34,000. Finally, Allworth Financial LP boosted its position in shares of Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Trading Up 0.3%

NASDAQ RUSHA opened at $76.57 on Friday. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $80.17. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $71.54 and its 200-day moving average price is $69.11. The stock has a market cap of $5.95 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.69 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, equities analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal 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 issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s payout ratio is 22.96%.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director owned 16,229 shares in the company, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Finally, Wolfe Research initiated coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Rush Enterprises Company 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.