Rush Enterprises, Inc. $RUSHA Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 33.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,336 shares of the company’s stock after selling 10,050 shares during the period. Oliver Luxxe Assets LLC’s holdings in Rush Enterprises were worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its position in Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Rush Enterprises by 1.1% during the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Rush Enterprises by 0.4% in the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock worth $2,955,000 after acquiring an additional 208 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Rush Enterprises by 44.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after acquiring an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Rush Enterprises by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock valued at $1,897,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analysts Set New Price Targets

RUSHA has been the topic of several analyst reports. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group increased their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Wolfe Research began coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. 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 increased their price objective on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, SVP Michael L. Goldstone sold 2,400 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $81.05, for a total transaction of $194,520.00. Following the completion of the sale, the senior vice president owned 12,590 shares in the company, valued at $1,020,419.50. The trade was a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Mcroberts sold 6,500 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $81.44, for a total transaction of $529,360.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $1,321,689.76. This trade represents a 28.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 112,250 shares of company stock worth $9,092,352. Company insiders own 12.68% of the company’s stock.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $80.08 on Monday. The business has a 50-day moving average price of $73.65 and a 200 day moving average price of $70.69. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $83.61. The firm has a market cap of $6.22 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.77 and a beta of 0.87. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16.

Shares of Rush Enterprises are going to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is 16.87%.

Rush Enterprises Company 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.