170,716 Shares in Rush Enterprises, Inc. $RUSHA Purchased by SEB Asset Management AB

SEB Asset Management AB bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 170,716 shares of the company’s stock, valued at approximately $11,286,000. SEB Asset Management AB owned 0.22% of Rush Enterprises at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RUSHA. Root Financial Partners LLC lifted its holdings in shares of Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 495.4% during 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 during the last quarter. Private Trust Co. NA increased its stake in shares of Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the 3rd quarter valued at approximately $34,000. Finally, Allworth Financial LP increased its holdings in Rush Enterprises by 5,790.9% in 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 during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analyst Ratings Changes

RUSHA has been the subject of several analyst reports. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group boosted their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 target price on the stock. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Stephens reiterated an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.67.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Price Performance

Shares of RUSHA opened at $74.92 on Tuesday. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $80.17. The business’s fifty day moving average is $71.06 and its 200 day moving average is $68.58. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $5.82 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.65 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. Sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.

About Rush Enterprises

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.