Rush Enterprises, Inc. (NASDAQ:RUSHA) Stock Position Lifted by Jennison Associates LLC

Jennison Associates LLC grew its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,996 shares of the company’s stock after acquiring an additional 3,295 shares during the quarter. Jennison Associates LLC’s holdings in Rush Enterprises were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RUSHA. Vaughan Nelson Investment Management L.P. boosted its stake in Rush Enterprises by 13.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after acquiring an additional 138,488 shares during the period. Cooke & Bieler LP boosted its position in Rush Enterprises by 10.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after purchasing an additional 100,318 shares during the period. Segall Bryant & Hamill LLC grew its stake in Rush Enterprises by 21.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 347,278 shares of the company’s stock worth $18,347,000 after buying an additional 60,201 shares during the last quarter. Natixis Advisors LLC lifted its stake in Rush Enterprises by 17.2% in the third quarter. Natixis Advisors LLC now owns 235,928 shares of the company’s stock valued at $12,464,000 after buying an additional 34,697 shares during the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of Rush Enterprises by 42.9% during the second quarter. Denali Advisors LLC now owns 148,785 shares of the company’s stock valued at $6,230,000 after acquiring an additional 44,700 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rush Enterprises news, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock worth $11,167,173 over the last ninety days. Company insiders own 12.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rush Enterprises Stock Up 1.1 %

RUSHA opened at $60.00 on Friday. The stock’s 50 day moving average price is $55.11 and its 200 day moving average price is $49.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market cap of $4.74 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.24 and a beta of 0.99. Rush Enterprises, Inc. has a 12 month low of $38.43 and a 12 month high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.43% and a net margin of 3.93%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.20%. Rush Enterprises’s payout ratio is 19.10%.

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.