KLP Kapitalforvaltning AS Acquires New Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

KLP Kapitalforvaltning AS bought a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,500 shares of the company’s stock, valued at approximately $685,000.

Several other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after buying an additional 703 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Rush Enterprises by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock worth $54,000 after acquiring an additional 192 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Rush Enterprises during the 3rd quarter valued at about $64,000. PNC Financial Services Group Inc. raised its stake in shares of Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock valued at $79,000 after acquiring an additional 596 shares in the last quarter. Finally, Quarry LP lifted its holdings in Rush Enterprises by 86.0% in the 3rd quarter. Quarry LP now owns 1,605 shares of the company’s stock worth $85,000 after purchasing an additional 742 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Insider Activity at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total transaction of $634,837.50. Following the sale, the senior vice president now directly owns 3,117 shares in the company, valued at approximately $175,892.31. The trade was a 78.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 4,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total value of $234,080.00. Following the completion of the transaction, the director now owns 15,771 shares of the company’s stock, valued at $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens reiterated an “overweight” rating and set a $69.00 price target on shares of Rush Enterprises in a report on Wednesday, February 19th.

Rush Enterprises Stock Up 3.8 %

Rush Enterprises stock opened at $55.44 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.43. The firm has a fifty day moving average price of $57.42 and a two-hundred day moving average price of $56.86. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.04 and a beta of 1.06.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. As a group, analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were paid a $0.18 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. Rush Enterprises’s payout ratio is 19.30%.

About Rush Enterprises

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.