Prudential Financial Inc. increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHB) by 105.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,388 shares of the company’s stock after buying an additional 5,838 shares during the quarter. Prudential Financial Inc.’s holdings in Rush Enterprises were worth $497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its position in shares of Rush Enterprises by 0.5% during the second quarter. Gamco Investors INC. ET AL now owns 616,399 shares of the company’s stock worth $22,443,000 after purchasing an additional 2,800 shares during the period. Vanguard Group Inc. raised its position in shares of Rush Enterprises by 6.2% during the second quarter. Vanguard Group Inc. now owns 325,265 shares of the company’s stock worth $11,843,000 after purchasing an additional 18,915 shares during the period. State Street Corp raised its position in shares of Rush Enterprises by 16.7% during the second quarter. State Street Corp now owns 97,071 shares of the company’s stock worth $3,537,000 after purchasing an additional 13,885 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Rush Enterprises by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 25,814 shares of the company’s stock worth $940,000 after purchasing an additional 171 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Rush Enterprises by 106.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 18,210 shares of the company’s stock worth $662,000 after purchasing an additional 9,400 shares during the period. Institutional investors and hedge funds own 11.71% of the company’s stock.

Shares of Rush Enterprises, Inc. (NASDAQ RUSHB) opened at $46.39 on Monday. The stock has a market capitalization of $1,847.90, a price-to-earnings ratio of 24.04 and a beta of 0.96. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55. Rush Enterprises, Inc. has a 52-week low of $28.16 and a 52-week high of $51.39.

Rush Enterprises announced that its Board of Directors has initiated a share repurchase program on Thursday, November 30th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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Rush Enterprises Company Profile

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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

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