Horizon Investments LLC Invests $1.71 Million in Rush Enterprises, Inc. $RUSHA

Horizon Investments LLC purchased a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31,715 shares of the company’s stock, valued at approximately $1,711,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after acquiring an additional 365 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of 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 acquiring an additional 431 shares during the period. Private Trust Co. NA lifted its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after acquiring an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP lifted its holdings in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $70.92 on Wednesday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.51 and a beta of 0.93. 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 firm has a 50 day simple moving average of $68.91 and a 200 day simple moving average of $61.37. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99.

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

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is 22.96%.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total value of $809,100.00. Following the completion of the transaction, the senior vice president directly owned 3,385 shares in the company, valued at approximately $243,449.20. This represents a 76.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond Joseph Chess sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total transaction of $650,500.00. Following the completion of the transaction, the director owned 41,170 shares of the company’s stock, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,750 shares of company stock valued at $2,927,290. Insiders own 12.68% of the company’s stock.

Analyst Upgrades and Downgrades

RUSHA has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $85.00 price target (up from $80.00) on shares of Rush Enterprises in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. Finally, Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.67.

Rush Enterprises 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.