Rush Enterprises, Inc. $RUSHA Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,452,286 shares of the company’s stock after selling 100,614 shares during the period. JPMorgan Chase & Co.’s holdings in Rush Enterprises were worth $77,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Rush Enterprises by 8.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock valued at $159,000 after buying an additional 219 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Rush Enterprises by 3.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock worth $329,000 after buying an additional 237 shares in the last quarter. Corbyn Investment Management Inc. MD increased its stake in shares of Rush Enterprises by 0.9% during the second quarter. Corbyn Investment Management Inc. MD now owns 28,058 shares of the company’s stock worth $1,445,000 after buying an additional 257 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Rush Enterprises by 0.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company’s stock worth $4,489,000 after buying an additional 269 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 10th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Stephens reissued an “overweight” rating and set a $80.00 target price (up previously from $55.00) on shares of Rush Enterprises in a research report on Thursday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.50.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total value of $809,100.00. Following the transaction, the senior vice president directly owned 3,385 shares in the company, valued at approximately $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the completion of the sale, the senior vice president directly owned 12,590 shares of the company’s stock, valued at $904,717.40. The trade was a 26.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,750 shares of company stock worth $1,698,950 in the last 90 days. 12.28% of the stock is owned by insiders.

Rush Enterprises Stock Down 2.6%

Rush Enterprises stock opened at $73.27 on Tuesday. The company has a market capitalization of $5.65 billion, a P/E ratio of 22.41, a PEG ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $75.99. The stock has a 50-day simple moving average of $62.86 and a 200-day simple moving average of $56.84.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. Equities research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 3rd. Rush Enterprises’s payout ratio is presently 23.24%.

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.