New South Capital Management Inc. Sells 56,541 Shares of Rush Enterprises, Inc. $RUSHA

New South Capital Management Inc. decreased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 17.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 270,267 shares of the company’s stock after selling 56,541 shares during the period. New South Capital Management Inc.’s holdings in Rush Enterprises were worth $12,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Rush Enterprises by 4.1% in the 2nd quarter. State Street Corp now owns 2,430,986 shares of the company’s stock worth $177,426,000 after acquiring an additional 96,418 shares during the period. Jennison Associates LLC boosted its holdings in shares of Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after acquiring an additional 700,511 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Rush Enterprises by 83.9% in the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock valued at $47,920,000 after acquiring an additional 330,553 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Rush Enterprises by 9.5% in the first quarter. Bank of America Corp DE now owns 566,287 shares of the company’s stock valued at $37,437,000 after acquiring an additional 49,009 shares in the last quarter. Finally, EULAV Asset Management increased its stake in shares of Rush Enterprises by 59.7% during the third quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock valued at $27,856,000 after acquiring an additional 227,352 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $45.10 on Thursday. Rush Enterprises, Inc. has a 52 week low of $30.94 and a 52 week high of $55.74. The company has a current ratio of 1.44, a quick ratio of 0.37 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.26 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89. The company’s 50-day moving average price is $46.46 and its two-hundred day moving average price is $36.95.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.05 billion. Rush Enterprises had a net margin of 3.70% and a return on equity of 11.91%. As a group, sell-side analysts anticipate that Rush Enterprises, Inc. will post 2.43 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 11th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.56 annualized dividend and a yield of 1.2%. Rush Enterprises’s dividend payout ratio is currently 24.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. UBS Group restated a “neutral” rating and issued a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Finally, Stephens lowered their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Rush Enterprises has an average rating of “Buy” and a consensus price target of $50.26.

About Rush Enterprises

Rush Enterprises, Inc. operates Rush Truck Centers, a network of commercial vehicle dealerships serving customers in the United States and Canada. The company sells new and used heavy-, medium- and light-duty trucks, representing manufacturers such as Peterbilt and other commercial vehicle brands. Its services include truck parts and repairs, collision and body work, leasing and rentals, and related financing and insurance products. Rush also provides aftermarket support designed to help commercial fleets and individual truck operators maintain and manage their vehicles.