Intech Investment Management LLC Makes New $1.52 Million Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Intech Investment Management LLC acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,834 shares of the company’s stock, valued at approximately $1,523,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Rush Enterprises by 266.1% during the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after acquiring an additional 511 shares during the last quarter. GAMMA Investing LLC grew its holdings in Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after acquiring an additional 469 shares during the last quarter. Quarry LP acquired a new position in Rush Enterprises during the 2nd quarter valued at about $36,000. Hexagon Capital Partners LLC lifted its position in Rush Enterprises by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after purchasing an additional 287 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Rush Enterprises during the 3rd quarter valued at about $53,000. Institutional investors own 84.43% of the company’s stock.

Insider Activity at Rush Enterprises

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

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $62.87 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 1 year low of $38.43 and a 1 year high of $65.15. The company has a market cap of $4.97 billion, a PE ratio of 16.68, a PEG ratio of 2.27 and a beta of 0.99. The company’s 50-day moving average is $55.36 and its two-hundred day moving average is $49.95.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (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 the consensus estimate of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.15%. Rush Enterprises’s dividend payout ratio is 19.10%.

Analysts Set New Price Targets

Separately, Stephens upped their target price 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 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.