Peregrine Capital Management LLC boosted its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,660 shares of the company’s stock after purchasing an additional 2,356 shares during the period. Peregrine Capital Management LLC owned 0.46% of Rush Enterprises worth $6,827,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. Strs Ohio raised its holdings in Rush Enterprises by 1.6% in the 2nd quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $771,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Rush Enterprises by 4.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,440 shares of the company’s stock worth $334,000 after purchasing an additional 480 shares during the period. Swiss National Bank increased its holdings in shares of Rush Enterprises by 0.9% during the first quarter. Swiss National Bank now owns 54,100 shares of the company’s stock worth $1,727,000 after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Rush Enterprises by 2.4% during the first quarter. Gamco Investors INC. ET AL now owns 22,037 shares of the company’s stock worth $703,000 after purchasing an additional 510 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Rush Enterprises by 8.2% during the second quarter. Janney Montgomery Scott LLC now owns 7,256 shares of the company’s stock worth $301,000 after purchasing an additional 548 shares during the period. 74.00% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a report on Saturday, July 25th. BMO Capital Markets raised their target price on shares of Rush Enterprises from $35.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. BidaskClub raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine cut shares of Rush Enterprises from a “sell” rating to a “strong sell” rating in a report on Monday, June 8th. Finally, TheStreet raised shares of Rush Enterprises from a “c+” rating to a “b-” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.80.
Shares of NASDAQ:RUSHA opened at $47.58 on Friday. The company’s 50 day simple moving average is $42.18 and its 200 day simple moving average is $39.59. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 2.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.27. Rush Enterprises, Inc. has a 1 year low of $27.25 and a 1 year high of $49.78.
Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, July 22nd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.52. Rush Enterprises had a net margin of 1.97% and a return on equity of 8.91%. The firm had revenue of $1 billion for the quarter. As a group, analysts anticipate that Rush Enterprises, Inc. will post 1.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 7th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.13. Rush Enterprises’s dividend payout ratio (DPR) is currently 13.79%.
In other news, SVP James E. Thor sold 40,026 shares of Rush Enterprises stock in a transaction on Friday, June 5th. The shares were sold at an average price of $46.00, for a total transaction of $1,841,196.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Derrek Weaver sold 22,000 shares of Rush Enterprises stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.43, for a total transaction of $1,021,460.00. The disclosure for this sale can be found here. Insiders sold 202,026 shares of company stock worth $9,677,781 in the last 90 days. Company insiders own 12.49% of the company’s stock.
About Rush Enterprises
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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