Natixis Advisors LLC Reduces Position in Rush Enterprises, Inc. $RUSHA

Key Points

• Natixis Advisors LLC cut its stake in Rush Enterprises by 31.7% in the fourth quarter, selling 71,343 shares and ending with 154,038 shares valued at about $8.3 million.
• Insider selling was notable, with directors Raymond Joseph Chess and Michael McRoberts both reducing their holdings through recent stock sales.
• Rush Enterprises reported solid quarterly results and a dividend, beating EPS estimates at $0.77 per share and announcing a $0.19 quarterly dividend, while analysts currently have an average “Hold” rating with an $83.67 target price.

Natixis Advisors LLC lessened its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,038 shares of the company's stock after selling 71,343 shares during the quarter. Natixis Advisors LLC owned approximately 0.20% of Rush Enterprises worth $8,309,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RUSHA. Millennium Management LLC boosted its stake in shares of Rush Enterprises by 280.4% during the third quarter. Millennium Management LLC now owns 540,942 shares of the company's stock valued at $28,924,000 after purchasing an additional 398,721 shares during the period. Cooke & Bieler LP boosted its stake in shares of Rush Enterprises by 85.0% during the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company's stock valued at $39,336,000 after purchasing an additional 335,019 shares during the period. American Century Companies Inc. boosted its stake in shares of Rush Enterprises by 38.6% during the third quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock valued at $62,743,000 after purchasing an additional 326,917 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Rush Enterprises by 91.9% during the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company's stock valued at $32,392,000 after purchasing an additional 301,119 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Rush Enterprises during the third quarter valued at approximately $10,906,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insiders Place Their Bets

In other Rush Enterprises news, Director Raymond Joseph Chess sold 10,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the transaction, the director owned 41,170 shares in the company, valued at approximately $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the transaction, the director owned 16,229 shares of the company's stock, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their position. The SEC filing for this sale provides additional information. 12.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RUSHA shares. Wall Street Zen raised Rush Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group upped their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Wolfe Research started coverage on Rush Enterprises in a report on Monday, April 27th. They set an "outperform" rating and a $88.00 target price for the company. Stephens restated an "overweight" rating and set a $85.00 target price on shares of Rush Enterprises in a report on Tuesday, May 19th. Finally, Zacks Research downgraded Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rush Enterprises presently has an average rating of "Hold" and an average target price of $83.67.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $67.02 on Monday. 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 company has a market cap of $5.21 billion, a PE ratio of 20.25, a P/E/G ratio of 1.42 and a beta of 0.89. The business has a 50 day moving average of $70.08 and a 200 day moving average of $64.64. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its 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. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, equities research analysts forecast that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. Rush Enterprises's dividend payout ratio is 22.96%.

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.

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