Citigroup Inc. Purchases 30,399 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Citigroup Inc. boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 39.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,635 shares of the company’s stock after purchasing an additional 30,399 shares during the quarter. Citigroup Inc.’s holdings in Rush Enterprises were worth $5,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. boosted its stake in shares of 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 buying an additional 138,488 shares in the last quarter. Cooke & Bieler LP increased its stake in Rush Enterprises by 10.1% during the second quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after acquiring an additional 100,318 shares during the last quarter. Global Alpha Capital Management Ltd. raised its holdings in Rush Enterprises by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 773,990 shares of the company’s stock valued at $40,890,000 after buying an additional 14,600 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rush Enterprises by 14.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 716,741 shares of the company’s stock valued at $37,865,000 after purchasing an additional 90,537 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in Rush Enterprises by 21.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 347,278 shares of the company’s stock worth $18,347,000 after acquiring an additional 60,201 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens raised their price objective 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 Trading Up 0.7 %

Rush Enterprises stock opened at $61.95 on Monday. The stock has a market cap of $4.90 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.34 and a beta of 0.99. The company’s fifty day simple moving average is $56.12 and its 200-day simple moving average is $50.36. Rush Enterprises, Inc. has a 12 month low of $39.25 and a 12 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.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.43% and a net margin of 3.93%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. As a group, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

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 paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Insider Buying and Selling

In other news, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the sale, the chief financial officer now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,000 shares of company stock valued at $11,167,173 in the last 90 days. 12.53% of the stock is owned by insiders.

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.