Tocqueville Asset Management L.P. raised its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,100 shares of the company’s stock after purchasing an additional 5,362 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Rush Enterprises were worth $5,743,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Systematic Financial Management LP increased its stake in Rush Enterprises by 2.6% during the 2nd quarter. Systematic Financial Management LP now owns 54,908 shares of the company’s stock valued at $2,382,000 after purchasing an additional 1,387 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Rush Enterprises by 13.3% in the second quarter. Gamco Investors INC. ET AL now owns 15,617 shares of the company’s stock worth $677,000 after acquiring an additional 1,828 shares during the period. Strs Ohio grew its stake in shares of Rush Enterprises by 8.9% in the second quarter. Strs Ohio now owns 23,300 shares of the company’s stock worth $1,010,000 after acquiring an additional 1,900 shares during the period. Capital Fund Management S.A. grew its stake in shares of Rush Enterprises by 7.7% in the second quarter. Capital Fund Management S.A. now owns 26,700 shares of the company’s stock worth $1,158,000 after acquiring an additional 1,900 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Rush Enterprises by 3.7% in the third quarter. PNC Financial Services Group Inc. now owns 54,962 shares of the company’s stock worth $2,160,000 after acquiring an additional 1,958 shares during the period. Institutional investors and hedge funds own 75.64% of the company’s stock.
Shares of RUSHA stock opened at $33.46 on Friday. Rush Enterprises, Inc. has a 52 week low of $32.55 and a 52 week high of $55.40. The company has a market capitalization of $1.31 billion, a PE ratio of 10.34, a P/E/G ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.16 and a quick ratio of 0.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, November 6th. Rush Enterprises’s payout ratio is 20.96%.
A number of brokerages have recently commented on RUSHA. ValuEngine upgraded shares of Rush Enterprises from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 21st. Credit Suisse Group reduced their price target on shares of Rush Enterprises from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, October 16th. BidaskClub lowered shares of Rush Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Stifel Nicolaus set a $48.00 price target on shares of Rush Enterprises and gave the stock a “buy” rating in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $49.14.
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About Rush Enterprises
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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