Commerzbank Aktiengesellschaft FI Invests $2.68 Million in Rush Enterprises, Inc. $RUSHA

Commerzbank Aktiengesellschaft FI acquired a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,284 shares of the company’s stock, valued at approximately $2,678,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Root Financial Partners LLC raised its stake in Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in 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 purchasing an additional 431 shares during the last quarter. Private Trust Co. NA increased 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 worth $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises during the 3rd quarter worth about $34,000. Finally, Allworth Financial LP raised its position in shares of Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Insider Buying and Selling

In related news, CEO William M. Rusty Rush sold 107,361 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $54.03, for a total transaction of $5,801,072.70. Following the completion of the transaction, the chief executive officer owned 261,231 shares in the company, valued at $14,115,181.70. This trade represents a 29.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Keller sold 31,017 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $53.82, for a total value of $1,669,334.94. Following the completion of the sale, the chief financial officer directly owned 126,561 shares in the company, valued at approximately $6,811,513.02. This represents a 19.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 168,375 shares of company stock valued at $9,092,352. 12.68% of the stock is currently owned by corporate insiders.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $82.13 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The firm’s 50-day simple moving average is $53.00 and its 200-day simple moving average is $48.59. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month high of $83.61. The firm has a market cap of $6.39 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87.

Rush Enterprises shares are set to split on the morning of Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. As a group, research analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio is presently 22.89%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RUSHA shares. Stephens increased their target price on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group raised their price objective on Rush Enterprises from $48.67 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

About Rush Enterprises

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.