12th Street Asset Management Company LLC Grows Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

12th Street Asset Management Company LLC raised its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 412,558 shares of the company’s stock after purchasing an additional 40,479 shares during the period. Rush Enterprises accounts for 3.7% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 13th largest position. 12th Street Asset Management Company LLC owned approximately 0.52% of Rush Enterprises worth $22,604,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in Rush Enterprises by 475.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after acquiring an additional 703 shares during the period. GAMMA Investing LLC boosted its stake in Rush Enterprises by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock valued at $54,000 after buying an additional 192 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Rush Enterprises in the third quarter worth $64,000. PNC Financial Services Group Inc. increased its holdings in shares of Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock worth $79,000 after buying an additional 596 shares during the last quarter. Finally, Quarry LP raised its position in Rush Enterprises by 86.0% during the third quarter. Quarry LP now owns 1,605 shares of the company’s stock valued at $85,000 after purchasing an additional 742 shares during the period. 84.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Rush Enterprises Trading Down 3.7 %

Shares of NASDAQ RUSHA opened at $52.01 on Friday. Rush Enterprises, Inc. has a 1-year low of $40.99 and a 1-year high of $65.43. The business has a fifty day moving average price of $58.27 and a 200 day moving average price of $56.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28. The stock has a market capitalization of $4.12 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

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

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.30%.

Insiders Place Their Bets

In other news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the transaction, the senior vice president now directly owns 3,117 shares of the company’s stock, valued at approximately $175,892.31. This trade represents a 78.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction dated Thursday, February 20th. The stock was 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 $922,918.92. This trade represents a 20.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is owned by insiders.

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.