Vise Technologies Inc. Acquires New Holdings in Rush Enterprises, Inc. $RUSHA

Vise Technologies Inc. bought a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,582 shares of the company’s stock, valued at approximately $494,000.

A number of other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in Rush Enterprises by 82.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after purchasing an additional 217 shares during the last quarter. AlphaQuest LLC purchased a new stake in Rush Enterprises during the 1st quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its stake in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock valued at $58,000 after purchasing an additional 227 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Rush Enterprises in the 1st quarter valued at $207,000. Finally, United Services Automobile Association purchased a new position in shares of Rush Enterprises in the first quarter worth about $217,000. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Down 1.6%

Shares of NASDAQ RUSHA opened at $47.32 on Friday. The stock has a market cap of $3.68 billion, a PE ratio of 14.04, a P/E/G ratio of 1.44 and a beta of 0.91. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $65.43. The company has a 50-day moving average of $52.29 and a 200 day moving average of $52.69.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. The business had revenue of $1.23 billion for the quarter. Rush Enterprises had a return on equity of 12.61% and a net margin of 3.57%. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 22.55%.

Insider Activity

In other news, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Stephens reduced their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rush Enterprises currently has a consensus rating of “Hold” and a consensus target price of $55.00.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.