Principal Financial Group Inc. Decreases Stake in Rush Enterprises, Inc. $RUSHA

Principal Financial Group Inc. reduced its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,943 shares of the company’s stock after selling 7,677 shares during the quarter. Principal Financial Group Inc. owned 0.38% of Rush Enterprises worth $15,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. American Century Companies Inc. raised 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 valued at $43,604,000 after buying an additional 714,253 shares during the last quarter. Rivulet Capital LLC bought a new stake in shares of Rush Enterprises in the second quarter worth $19,286,000. Ameriprise Financial Inc. increased its position in Rush Enterprises by 91.9% during the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after acquiring an additional 301,119 shares during the last quarter. Allianz Asset Management GmbH lifted 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 valued at $18,179,000 after acquiring an additional 265,432 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Rush Enterprises by 14.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock worth $63,054,000 after purchasing an additional 148,363 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on RUSHA shares. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Stephens reduced their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group assumed coverage on Rush Enterprises in a report on Wednesday, January 28th. They issued a “neutral” rating and a $70.00 target price on the stock. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research note 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.50.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $71.04 on Tuesday. The stock has a 50-day moving average price of $59.51 and a 200 day moving average price of $55.60. The stock has a market capitalization of $5.48 billion, a P/E ratio of 21.08, a P/E/G ratio of 0.89 and a beta of 0.92. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $73.76. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16.

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.