16,800 Shares in Rush Enterprises, Inc. $RUSHA Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 3rd quarter, Holdings Channel.com reports. The fund bought 16,800 shares of the company’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC increased its position in shares of Rush Enterprises by 2.7% in the 3rd quarter. Denali Advisors LLC now owns 135,296 shares of the company’s stock valued at $7,234,000 after buying an additional 3,559 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Rush Enterprises by 70.3% in the third quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock valued at $51,000 after acquiring an additional 392 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Rush Enterprises by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company’s stock worth $12,776,000 after acquiring an additional 30,293 shares in the last quarter. Savvy Advisors Inc. increased its holdings in shares of Rush Enterprises by 17.3% in the third quarter. Savvy Advisors Inc. now owns 6,431 shares of the company’s stock worth $344,000 after acquiring an additional 948 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of Rush Enterprises by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 59,185 shares of the company’s stock worth $3,165,000 after purchasing an additional 291 shares during the period. 84.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday. Finally, Stephens reissued an “overweight” rating and issued a $80.00 price target (up previously from $55.00) on shares of Rush Enterprises in a research note on Thursday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Rush Enterprises has an average rating of “Hold” and a consensus target price of $76.50.

Rush Enterprises Stock Up 2.1%

Rush Enterprises stock opened at $75.26 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $75.99. The company has a fifty day simple moving average of $62.53 and a 200 day simple moving average of $56.71. The company has a market cap of $5.80 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. Research analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s dividend payout ratio is 23.24%.

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.