Geode Capital Management LLC Acquires 16,803 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Geode Capital Management LLC grew its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHAFree Report) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,616,048 shares of the company’s stock after acquiring an additional 16,803 shares during the quarter. Geode Capital Management LLC’s holdings in Rush Enterprises were worth $85,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RUSHA. FMR LLC lifted its stake in Rush Enterprises by 34.8% during the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after purchasing an additional 1,336,528 shares during the period. State Street Corp lifted its position in shares of Rush Enterprises by 0.7% during the 3rd quarter. State Street Corp now owns 2,349,597 shares of the company’s stock worth $124,129,000 after buying an additional 16,082 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Rush Enterprises by 13.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after buying an additional 138,488 shares in the last quarter. Cooke & Bieler LP grew its position in Rush Enterprises by 10.1% in the second 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 during the period. Finally, Global Alpha Capital Management Ltd. raised its stake in Rush Enterprises by 1.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 773,990 shares of the company’s stock worth $40,890,000 after acquiring an additional 14,600 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven L. Keller sold 43,875 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total value of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at $5,308,683.20. This trade represents a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction dated 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 directly owns 174,154 shares of the company’s stock, valued at $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,000 shares of company stock worth $11,167,173. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $55.40 on Friday. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.14 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 1-year low of $40.99 and a 1-year high of $65.15. The company has a 50 day moving average of $58.55 and a 200-day moving average of $51.82.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities analysts forecast that Rush Enterprises, Inc. will post 3.64 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on RUSHA

Rush Enterprises Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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