Vaughan Nelson Investment Management L.P. Decreases Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• Vaughan Nelson Investment Management cut its Rush Enterprises stake by 27.1% in the first quarter, selling 206,320 shares and leaving it with 554,746 shares worth about $36.7 million.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, though revenue of $1.68 billion came in slightly below estimates.
• The stock has seen mixed sentiment: the company recently paid a $0.19 quarterly dividend and analysts currently have a consensus “Hold” rating with an average price target of $83.67.

Vaughan Nelson Investment Management L.P. lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554,746 shares of the company's stock after selling 206,320 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.72% of Rush Enterprises worth $36,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RUSHA. CIBC Private Wealth Group LLC lifted its holdings in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after acquiring an additional 431 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises during the 3rd quarter valued at $34,000. Allworth Financial LP raised its position in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after purchasing an additional 637 shares during the period. Finally, First Horizon Corp bought a new stake in Rush Enterprises in the fourth quarter worth $37,000. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $70.11 on Monday. The company's fifty day simple moving average is $70.61 and its two-hundred day simple moving average is $65.94. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99. The firm has a market cap of $5.45 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred 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 sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target for the company. UBS Group boosted 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. Zacks Research cut Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Finally, Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rush Enterprises presently has a consensus rating of "Hold" and a consensus target price of $83.67.

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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