Rush Enterprises, Inc. $RUSHA Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 21.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,697 shares of the company’s stock after purchasing an additional 62,117 shares during the period. Principal Financial Group Inc.’s holdings in Rush Enterprises were worth $23,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Root Financial Partners LLC grew its holdings in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after buying an additional 431 shares in the last quarter. Private Trust Co. NA boosted its position in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises in the third quarter worth $34,000. Finally, Allworth Financial LP grew its stake in shares of Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of several analyst reports. UBS Group increased their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Wolfe Research initiated coverage on Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.67.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $74.92 on Tuesday. The stock has a 50 day moving average price of $71.06 and a 200 day moving average price of $68.58. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $80.17.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. Research analysts predict that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises’s payout ratio is 22.96%.

Insider Transactions at Rush Enterprises

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

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.