Rhumbline Advisers Lowers Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Rhumbline Advisers trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,185 shares of the company’s stock after selling 4,077 shares during the quarter. Rhumbline Advisers’ holdings in Rush Enterprises were worth $10,092,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in 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 buying an additional 511 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Rush Enterprises by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock worth $54,000 after acquiring an additional 192 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Rush Enterprises during the 3rd quarter valued at about $58,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rush Enterprises during the 3rd quarter valued at about $64,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Rush Enterprises by 73.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,479 shares of the company’s stock valued at $78,000 after purchasing an additional 628 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $55.21 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The firm has a fifty day moving average of $58.06 and a 200 day moving average of $56.12. The firm has a market cap of $4.36 billion, a PE ratio of 14.80, a PEG ratio of 1.04 and a beta of 1.02. Rush Enterprises, Inc. has a one year low of $40.99 and a one year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. Rush Enterprises’s payout ratio is currently 19.30%.

Insider Activity

In related news, Director Michael Mcroberts sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. Following the transaction, the director now directly owns 15,771 shares in the company, valued at approximately $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens reiterated an “overweight” rating and set a $69.00 price target on shares of Rush Enterprises in a research report on Wednesday, February 19th.

Rush Enterprises Company 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.