Victory Capital Management Inc. Trims Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Victory Capital Management Inc. reduced its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 15.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,879 shares of the company’s stock after selling 21,781 shares during the quarter. Victory Capital Management Inc.’s holdings in Rush Enterprises were worth $6,492,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its position in shares of Rush Enterprises by 266.1% during the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after acquiring an additional 511 shares during the period. GAMMA Investing LLC increased its position in shares of Rush Enterprises by 147.5% during the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after acquiring an additional 469 shares during the period. Quarry LP purchased a new position in shares of Rush Enterprises during the second quarter worth approximately $36,000. Hexagon Capital Partners LLC increased its holdings in Rush Enterprises by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after buying an additional 287 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in Rush Enterprises during the third quarter valued at approximately $53,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven L. Keller sold 14,625 shares of Rush Enterprises stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.50, for a total transaction of $855,562.50. Following the sale, the chief financial officer now owns 83,365 shares of the company’s stock, valued at $4,876,852.50. The trade was a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $11,167,173 over the last three months. Corporate insiders own 12.53% of the company’s stock.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $60.00 on Friday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.23 and a beta of 0.99. The company’s 50 day moving average is $55.11 and its 200 day moving average is $49.77. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 52-week low of $38.43 and a 52-week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. Rush Enterprises’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.20%. Rush Enterprises’s dividend payout ratio (DPR) is 19.10%.

Analysts Set New Price Targets

Separately, Stephens lifted their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. 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, IC Bus, Blue Bird, and Dennis Eagle.