Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 291,599 shares of the company’s stock after selling 40,384 shares during the quarter. Principal Financial Group Inc. owned 0.37% of Rush Enterprises worth $15,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. Janney Montgomery Scott LLC acquired a new stake in shares of Rush Enterprises in the 1st quarter valued at $625,000. Quantbot Technologies LP increased its stake in Rush Enterprises by 853.9% in the first quarter. Quantbot Technologies LP now owns 4,941 shares of the company’s stock valued at $264,000 after acquiring an additional 4,423 shares during the period. ProShare Advisors LLC grew its stake in Rush Enterprises by 20.1% during the first quarter. ProShare Advisors LLC now owns 12,255 shares of the company’s stock worth $656,000 after buying an additional 2,051 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Rush Enterprises during the first quarter worth approximately $898,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Rush Enterprises by 14.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,174 shares of the company’s stock worth $759,000 after purchasing an additional 1,767 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rush Enterprises

In other news, CFO Steven L. Keller sold 14,625 shares of Rush Enterprises stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the transaction, the chief financial officer now directly owns 83,365 shares in the company, valued at approximately $4,876,852.50. This trade represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William M. Rusty Rush sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. The trade was a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,500 shares of company stock valued at $13,552,133. Company insiders own 12.53% of the company’s stock.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $60.66 on Friday. Rush Enterprises, Inc. has a twelve month low of $38.10 and a twelve month high of $65.15. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $54.04 and a two-hundred day simple moving average of $49.22. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. Analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 19.10%.

Analyst Ratings Changes

Separately, Stephens increased their target price on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises 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.