Allianz Asset Management GmbH Lowers Stock Position in Rush Enterprises, Inc. $RUSHA

Allianz Asset Management GmbH lessened its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 287,517 shares of the company’s stock after selling 65,405 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.37% of Rush Enterprises worth $15,374,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Rush Enterprises by 250.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after purchasing an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Federated Hermes Inc. grew its holdings in Rush Enterprises by 122.1% in the third quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock valued at $42,000 after purchasing an additional 436 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Rush Enterprises in the second quarter valued at approximately $73,000. Finally, Smithfield Trust Co increased its position in shares of Rush Enterprises by 864.5% in the second quarter. Smithfield Trust Co now owns 1,765 shares of the company’s stock valued at $91,000 after buying an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Stock Up 0.9%

Shares of NASDAQ RUSHA opened at $72.64 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $59.14 and a 200 day moving average of $55.47. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $73.76. The stock has a market cap of $5.60 billion, a PE ratio of 21.55, a P/E/G ratio of 0.89 and a beta of 0.92.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RUSHA. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Stephens decreased their price objective on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. UBS Group initiated coverage on shares of Rush Enterprises in a research note on Wednesday, January 28th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

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.