Rush Enterprises, Inc. (NASDAQ:RUSHA) Stake Lowered by Swiss National Bank

Swiss National Bank decreased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,950 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank owned 0.15% of Rush Enterprises worth $6,390,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Rush Enterprises by 2.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 97,444 shares of the company’s stock worth $5,216,000 after purchasing an additional 1,996 shares during the last quarter. EMC Capital Management grew its holdings in Rush Enterprises by 26.6% in the 1st quarter. EMC Capital Management now owns 9,603 shares of the company’s stock worth $514,000 after buying an additional 2,019 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Rush Enterprises by 30.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 73,541 shares of the company’s stock valued at $3,936,000 after acquiring an additional 17,209 shares during the period. Verity Asset Management Inc. acquired a new position in Rush Enterprises during the 1st quarter worth $429,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Rush Enterprises in the first quarter worth $214,000. Institutional investors own 84.43% 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 note on Friday, November 1st.

Rush Enterprises Trading Down 1.8 %

Shares of NASDAQ:RUSHA opened at $61.74 on Wednesday. Rush Enterprises, Inc. has a twelve month low of $38.43 and a twelve month high of $65.15. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The firm has a market cap of $4.88 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.27 and a beta of 0.99. The company has a 50 day moving average of $55.36 and a 200-day moving average of $49.95.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly 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. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $0.96 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Insider Transactions at Rush Enterprises

In other news, CFO Steven L. Keller sold 14,625 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.50, for a total value of $855,562.50. Following the completion of the sale, the chief financial officer now owns 83,365 shares in the company, valued at $4,876,852.50. This represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock valued at $11,167,173 in the last three months. 12.53% of the stock is currently owned by corporate insiders.

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.