Fmr LLC Boosts Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Fmr LLC lifted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 34.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,174,262 shares of the company’s stock after purchasing an additional 1,336,528 shares during the quarter. Fmr LLC owned about 6.57% of Rush Enterprises worth $273,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. raised its position in Rush Enterprises by 13.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after purchasing an additional 138,488 shares during the period. Algert Global LLC raised its holdings in shares of Rush Enterprises by 284.0% in the 3rd quarter. Algert Global LLC now owns 159,610 shares of the company’s stock valued at $8,432,000 after buying an additional 118,041 shares during the period. Edgestream Partners L.P. boosted its holdings in Rush Enterprises by 678.7% during the 2nd quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock valued at $5,468,000 after acquiring an additional 113,831 shares during the period. Cooke & Bieler LP grew its position in Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after acquiring an additional 100,318 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Rush Enterprises during the second quarter worth about $41,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rush Enterprises

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

Rush Enterprises Stock Up 0.7 %

Shares of NASDAQ RUSHA opened at $61.95 on Monday. Rush Enterprises, Inc. has a 12-month low of $39.25 and a 12-month high of $65.15. The stock has a market cap of $4.90 billion, a P/E ratio of 16.43, a PEG ratio of 2.34 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $56.12 and its 200-day simple moving average is $50.36.

Rush Enterprises (NASDAQ:RUSHA) last announced 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. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $0.96 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 19.10%.

Analyst Ratings Changes

Separately, Stephens raised their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research note 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.