Rush Enterprises, Inc. $RUSHA Shares Purchased by EULAV Asset Management

EULAV Asset Management boosted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 59.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 608,071 shares of the company’s stock after acquiring an additional 227,352 shares during the quarter. EULAV Asset Management’s holdings in Rush Enterprises were worth $27,856,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RUSHA. State Street Corp lifted its holdings in Rush Enterprises by 4.1% in the second quarter. State Street Corp now owns 2,430,986 shares of the company’s stock valued at $177,426,000 after acquiring an additional 96,418 shares during the period. Jennison Associates LLC boosted its position in Rush Enterprises by 166.4% in the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after purchasing an additional 700,511 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Rush Enterprises by 83.9% during the 1st quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after purchasing an additional 330,553 shares during the period. Bank of America Corp DE grew its stake in shares of Rush Enterprises by 9.5% during the 1st quarter. Bank of America Corp DE now owns 566,287 shares of the company’s stock worth $37,437,000 after purchasing an additional 49,009 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Rush Enterprises by 21.5% during the 1st quarter. Principal Financial Group Inc. now owns 351,697 shares of the company’s stock worth $23,251,000 after purchasing an additional 62,117 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Stock Up 0.3%

NASDAQ RUSHA opened at $45.48 on Wednesday. Rush Enterprises, Inc. has a twelve month low of $30.45 and a twelve month high of $55.74. The stock has a 50-day moving average of $48.03 and a 200 day moving average of $36.00.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Analysts predict that Rush Enterprises, Inc. will post 2.43 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be given a $0.14 dividend. The ex-dividend date is Wednesday, November 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%.

Wall Street Analyst Weigh In

RUSHA has been the subject of several recent research reports. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Stephens increased their price target on shares of Rush Enterprises from $40.00 to $42.22 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 21st. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.00.

Insiders Place Their Bets

In other news, SVP Michael Goldstone sold 5,400 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.02, for a total transaction of $194,520.00. Following the completion of the transaction, the senior vice president directly owned 28,327 shares of the company’s stock, valued at $1,020,401.49. This represents a 16.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Keller sold 46,525 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $35.88, for a total value of $1,669,317.00. Following the transaction, the chief financial officer owned 189,841 shares in the company, valued at $6,811,495.08. This trade represents a 19.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 252,561 shares of company stock valued at $9,092,298. Corporate insiders own 12.68% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.