Clearbridge Investments LLC Sells 47,627 Shares of Rush Enterprises, Inc. $RUSHA

Clearbridge Investments LLC lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,652 shares of the company’s stock after selling 47,627 shares during the quarter. Clearbridge Investments LLC’s holdings in Rush Enterprises were worth $10,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in Rush Enterprises by 174.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after buying an additional 607,047 shares during the period. Millennium Management LLC increased its holdings in Rush Enterprises by 280.4% in the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after buying an additional 398,721 shares during the period. Cooke & Bieler LP increased its holdings in Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after buying an additional 335,019 shares during the period. American Century Companies Inc. increased its holdings in Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after buying an additional 326,917 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Rush Enterprises by 91.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after buying an additional 301,119 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Down 1.1%

Shares of NASDAQ RUSHA opened at $67.77 on Thursday. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88. The firm’s 50-day simple moving average is $70.20 and its 200 day simple moving average is $65.06.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. On average, research analysts expect that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. Rush Enterprises’s dividend payout ratio is presently 22.96%.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of several analyst reports. UBS Group boosted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Wolfe Research initiated coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rush Enterprises has an average rating of “Hold” and an average target price of $83.67.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.68% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.