Clearbridge Investments LLC Sells 3,234 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Clearbridge Investments LLC lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,755 shares of the company’s stock after selling 3,234 shares during the quarter. Clearbridge Investments LLC’s holdings in Rush Enterprises were worth $18,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RUSHA. Smartleaf Asset Management LLC grew its stake in shares of Rush Enterprises by 475.0% during the 4th 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 grew its stake in Rush Enterprises by 24.4% in the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock worth $54,000 after buying an additional 192 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Rush Enterprises in the third quarter worth $64,000. PNC Financial Services Group Inc. increased its position in shares of Rush Enterprises by 71.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock valued at $79,000 after purchasing an additional 596 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Rush Enterprises by 86.0% during the third quarter. Quarry LP now owns 1,605 shares of the company’s stock worth $85,000 after acquiring an additional 742 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 other news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at $175,892.31. The trade was a 78.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $234,080.00. Following the completion of the sale, 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 corporate insiders.

Wall Street Analyst Weigh In

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

Rush Enterprises Stock Up 1.1 %

RUSHA stock opened at $56.03 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.43. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The business’s 50 day moving average price is $57.33 and its two-hundred day moving average price is $56.86.

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

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 3rd were given a dividend of $0.18 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Rush Enterprises’s dividend payout ratio (DPR) is 19.30%.

About Rush Enterprises

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.