Hsbc Holdings PLC Invests $776,000 in Rush Enterprises, Inc. $RUSHA

Hsbc Holdings PLC purchased a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 14,307 shares of the company’s stock, valued at approximately $776,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Rush Enterprises by 33.6% during the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Rush Enterprises by 8.0% in the first quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after purchasing an additional 1,806 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rush Enterprises by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock valued at $1,935,000 after purchasing an additional 1,592 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Rush Enterprises by 18.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after buying an additional 60,615 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Rush Enterprises in the first quarter worth $221,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group upped their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wolfe Research started coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price on the stock. Finally, Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.67.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $75.86 on Wednesday. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $76.99. The stock’s 50-day moving average is $70.67 and its two-hundred day moving average is $67.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The firm has a market cap of $5.90 billion, a P/E ratio of 22.92, a PEG ratio of 1.59 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Analysts predict that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

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

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.68% of the stock is owned by company insiders.

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.