Allspring Global Investments Holdings LLC Has $588,000 Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,121 shares of the company’s stock after selling 821 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rush Enterprises were worth $588,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RUSHA. State of Alaska Department of Revenue grew its holdings in Rush Enterprises by 18.0% during the 1st quarter. State of Alaska Department of Revenue now owns 37,526 shares of the company’s stock worth $2,008,000 after acquiring an additional 5,717 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Rush Enterprises by 89.6% in the 1st quarter. BNP Paribas Financial Markets now owns 33,557 shares of the company’s stock valued at $1,796,000 after buying an additional 15,856 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Rush Enterprises in the 1st quarter valued at about $625,000. Capstone Investment Advisors LLC acquired a new stake in shares of Rush Enterprises in the 1st quarter valued at about $271,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of Rush Enterprises by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,911 shares of the company’s stock valued at $2,885,000 after buying an additional 705 shares during the period. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Trading Up 1.6 %

NASDAQ:RUSHA opened at $57.46 on Friday. 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 stock has a market capitalization of $4.53 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. The firm’s 50 day moving average is $51.94 and its 200 day moving average is $48.23. Rush Enterprises, Inc. has a 12 month low of $36.40 and a 12 month high of $60.55.

Rush Enterprises (NASDAQ:RUSHA) last issued its 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 net margin of 3.93% and a return on equity of 15.43%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared 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 is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. Rush Enterprises’s dividend payout ratio (DPR) is currently 19.10%.

Insider Activity

In related news, CEO William M. Rusty Rush sold 40,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $9,371,226.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rush Enterprises news, CEO William M. Rusty Rush sold 40,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at $9,371,226.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the completion of the sale, the senior vice president now directly owns 534 shares of the company’s stock, valued at $27,597.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock worth $3,422,554 in the last three months. Corporate insiders own 12.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens raised their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday.

Rush Enterprises Company Profile

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.