Peregrine Capital Management LLC Trims Position in Rush Enterprises, Inc. $RUSHA

Peregrine Capital Management LLC decreased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.8% during the first quarter, Holdings Channel reports. The fund owned 82,401 shares of the company’s stock after selling 7,951 shares during the period. Peregrine Capital Management LLC’s holdings in Rush Enterprises were worth $5,448,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of Rush Enterprises by 38.6% in the third quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock worth $62,743,000 after buying an additional 326,917 shares during the last quarter. Natixis Advisors LLC increased its holdings in Rush Enterprises by 21.3% during the third quarter. Natixis Advisors LLC now owns 225,381 shares of the company’s stock valued at $12,051,000 after buying an additional 39,604 shares during the last quarter. SG Americas Securities LLC increased its holdings in Rush Enterprises by 63.9% during the fourth quarter. SG Americas Securities LLC now owns 27,040 shares of the company’s stock valued at $1,459,000 after buying an additional 10,545 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new position in Rush Enterprises in the third quarter worth approximately $978,000. Finally, Cooke & Bieler LP raised its position in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after acquiring an additional 335,019 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Stock Performance

RUSHA opened at $71.97 on Thursday. The firm has a market cap of $5.59 billion, a P/E ratio of 21.74, a PEG ratio of 1.55 and a beta of 0.89. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $76.99. The company has a 50 day simple moving average of $70.66 and a two-hundred day simple moving average of $66.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last announced 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Equities analysts forecast that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. 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 1.1%. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.

Insider Buying and Selling

In other news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale 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.

Analyst Upgrades and Downgrades

RUSHA has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, June 18th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday. Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. UBS Group boosted their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Wolfe Research initiated coverage on Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Rush Enterprises has an average rating of “Moderate Buy” and an average target price of $83.67.

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.