Rush Enterprises, Inc. $RUSHA Shares Bought by Granite Investment Partners LLC

Granite Investment Partners LLC lifted its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 124.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,619 shares of the company’s stock after acquiring an additional 79,535 shares during the quarter. Granite Investment Partners LLC’s holdings in Rush Enterprises were worth $9,495,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Rush Enterprises by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock valued at $203,618,000 after buying an additional 29,375 shares during the last quarter. State Street Corp boosted its stake in shares of Rush Enterprises by 0.3% during the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after acquiring an additional 6,994 shares during the last quarter. Global Alpha Capital Management Ltd. increased its position in Rush Enterprises by 20.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after purchasing an additional 173,096 shares in the last quarter. Beck Mack & Oliver LLC lifted its holdings in Rush Enterprises by 1.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock valued at $53,071,000 after purchasing an additional 14,995 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Rush Enterprises by 174.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after purchasing an additional 607,047 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Trading Up 0.7%

NASDAQ RUSHA opened at $72.57 on Thursday. The company has a market cap of $5.64 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.53 and a beta of 0.89. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $76.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The company has a 50-day moving average of $70.51 and a 200-day moving average of $67.45.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share 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 analyst estimates of $1.73 billion. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently declared 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. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s payout ratio is 22.96%.

Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RUSHA shares. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday, June 18th. Wolfe Research began coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.67.

Rush Enterprises Company Profile

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.