Bank of America Corp DE Sells 58,709 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Bank of America Corp DE lowered its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 810,541 shares of the company's stock after selling 58,709 shares during the period. Bank of America Corp DE owned approximately 1.03% of Rush Enterprises worth $44,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RUSHA. Global Alpha Capital Management Ltd. grew its stake in Rush Enterprises by 2.0% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 789,190 shares of the company's stock worth $43,240,000 after buying an additional 15,200 shares in the last quarter. Costello Asset Management INC lifted its holdings in shares of Rush Enterprises by 3,793.9% in the 4th quarter. Costello Asset Management INC now owns 42,833 shares of the company's stock worth $2,347,000 after acquiring an additional 41,733 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Rush Enterprises by 4.9% in the 4th quarter. Natixis Advisors LLC now owns 247,586 shares of the company's stock worth $13,566,000 after acquiring an additional 11,658 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Rush Enterprises by 82.6% in the 4th quarter. EMC Capital Management now owns 9,603 shares of the company's stock worth $526,000 after acquiring an additional 4,345 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Rush Enterprises in the 4th quarter worth approximately $5,760,000. Institutional investors own 84.43% of the company's stock.

Insider Activity at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the transaction, the senior vice president now owns 3,117 shares in the company, valued at $175,892.31. This represents a 78.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Mcroberts sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $58.52, for a total transaction of $234,080.00. Following the completion of the transaction, the director now owns 15,771 shares in the company, valued at $922,918.92. This trade represents a 20.23% decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, May 2nd.

Rush Enterprises Trading Up 0.7%

NASDAQ:RUSHA traded up $0.34 during midday trading on Tuesday, reaching $52.32. 53,459 shares of the stock traded hands, compared to its average volume of 379,547. The company has a fifty day moving average of $51.95 and a 200 day moving average of $56.46. Rush Enterprises, Inc. has a 12 month low of $40.99 and a 12 month high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The stock has a market capitalization of $4.15 billion, a P/E ratio of 14.05, a PEG ratio of 1.04 and a beta of 0.94.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. On average, research analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Monday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is 20.11%.

Rush Enterprises Profile

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.