Rush Enterprises, Inc. $RUSHA Shares Acquired by Cooke & Bieler LP

Cooke & Bieler LP raised its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 85.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 729,250 shares of the company’s stock after purchasing an additional 335,019 shares during the quarter. Cooke & Bieler LP’s holdings in Rush Enterprises were worth $39,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RUSHA. CIBC Private Wealth Group LLC increased its holdings in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Rush Enterprises in the 3rd quarter valued at about $34,000. Allworth Financial LP boosted its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Rush Enterprises during the fourth quarter worth $37,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rush Enterprises

In related news, Director Raymond Joseph Chess sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total transaction of $650,500.00. Following the completion of the sale, the director directly owned 41,170 shares of the company’s stock, valued at $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director directly owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RUSHA has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a report on Tuesday, May 19th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Wolfe Research assumed coverage on Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. Finally, Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.67.

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $68.89 on Tuesday. The firm has a 50 day simple moving average of $69.26 and a 200-day simple moving average of $63.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The stock has a market capitalization of $5.35 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.1%. Rush Enterprises’s dividend payout ratio is currently 22.96%.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.