Granite Investment Partners LLC Sells 122,720 Shares of Rush Enterprises, Inc. $RUSHA

Granite Investment Partners LLC cut its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 52.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 111,324 shares of the company’s stock after selling 122,720 shares during the quarter. Granite Investment Partners LLC’s holdings in Rush Enterprises were worth $5,952,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Rush Enterprises by 540.0% during the second quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after buying an additional 714,253 shares during the period. Edgestream Partners L.P. grew its stake in Rush Enterprises by 664.8% during the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock valued at $5,098,000 after acquiring an additional 86,023 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in Rush Enterprises by 2.9% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock worth $26,023,000 after acquiring an additional 14,387 shares during the period. EULAV Asset Management lifted its stake in Rush Enterprises by 17.1% in the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock worth $14,763,000 after purchasing an additional 40,378 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its holdings in Rush Enterprises by 4.5% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock valued at $43,469,000 after purchasing an additional 36,600 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $75.26 on Monday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.92 and a beta of 0.92. The company has a current ratio of 1.40, a quick ratio of 0.37 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 stock’s 50-day moving average is $62.53 and its 200 day moving average is $56.71.

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

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be issued 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 dividend yield of 1.0%. Rush Enterprises’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RUSHA. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 10th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Stephens reiterated an “overweight” rating and set a $80.00 price target (up previously from $55.00) on shares of Rush Enterprises in a research report on Thursday. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, 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. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.50.

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.