American International Group Inc. trimmed its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,170 shares of the company’s stock after selling 622 shares during the quarter. American International Group Inc. owned about 0.05% of Rush Enterprises worth $801,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in Rush Enterprises in the first quarter valued at $50,000. Quantamental Technologies LLC purchased a new stake in shares of Rush Enterprises in the first quarter valued at about $95,000. Great West Life Assurance Co. Can raised its holdings in shares of Rush Enterprises by 9.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,683 shares of the company’s stock valued at $122,000 after buying an additional 321 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rush Enterprises in the first quarter valued at about $126,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Rush Enterprises by 342.1% in the first quarter. Meeder Asset Management Inc. now owns 3,422 shares of the company’s stock valued at $142,000 after buying an additional 2,648 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. ValuEngine cut shares of Rush Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, May 18th. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, June 6th. BidaskClub upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Longbow Research cut shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.00.
Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Rush Enterprises had a return on equity of 15.19% and a net margin of 2.76%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities analysts anticipate that Rush Enterprises, Inc. will post 4.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, May 8th. Rush Enterprises’s payout ratio is 12.47%.
Rush Enterprises Company Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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