Jennison Associates LLC Reduces Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Jennison Associates LLC reduced its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,284 shares of the company’s stock after selling 3,061 shares during the quarter. Jennison Associates LLC’s holdings in Rush Enterprises were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in RUSHA. Gladius Capital Management LP grew its stake in Rush Enterprises by 891.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,120 shares of the company’s stock valued at $46,000 after buying an additional 1,007 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Rush Enterprises by 50.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,290 shares of the company’s stock valued at $94,000 after purchasing an additional 763 shares in the last quarter. Essex Savings Bank bought a new stake in shares of Rush Enterprises during the 4th quarter valued at $204,000. Tectonic Advisors LLC purchased a new stake in Rush Enterprises during the 4th quarter worth about $207,000. Finally, Cornerstone Investment Partners LLC bought a new position in Rush Enterprises in the 4th quarter worth about $211,000. 84.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RUSHA. StockNews.com cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Stephens reaffirmed an “overweight” rating and set a $60.00 target price on shares of Rush Enterprises in a report on Wednesday.

Insiders Place Their Bets

In other news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $48.28, for a total transaction of $543,150.00. Following the sale, the senior vice president now owns 2,777 shares in the company, valued at approximately $134,073.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Rush Enterprises Trading Up 3.0 %

Shares of RUSHA stock opened at $46.76 on Friday. The company has a market capitalization of $3.64 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02. Rush Enterprises, Inc. has a 52-week low of $33.37 and a 52-week high of $53.78. The business’s fifty day moving average is $49.35 and its 200 day moving average is $44.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.27 and a current ratio of 1.43.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. Rush Enterprises had a return on equity of 17.16% and a net margin of 4.16%. The firm had revenue of $1.87 billion for the quarter. During the same period in the previous year, the business earned $1.07 EPS. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 2.92 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.68 annualized dividend and a yield of 1.45%. Rush Enterprises’s payout ratio is presently 17.19%.

Rush Enterprises Company Profile

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.