Rush Enterprises, Inc. (NASDAQ:RUSHA) Position Boosted by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,996 shares of the company’s stock after purchasing an additional 3,295 shares during the quarter. Jennison Associates LLC’s holdings in Rush Enterprises were worth $1,796,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. Segall Bryant & Hamill LLC boosted its position in Rush Enterprises by 21.0% during the third quarter. Segall Bryant & Hamill LLC now owns 347,278 shares of the company’s stock valued at $18,347,000 after purchasing an additional 60,201 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Rush Enterprises by 13.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after buying an additional 138,488 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Rush Enterprises by 17.2% in the 3rd quarter. Natixis Advisors LLC now owns 235,928 shares of the company’s stock valued at $12,464,000 after buying an additional 34,697 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Rush Enterprises in the third quarter worth approximately $214,000. Finally, GSA Capital Partners LLP bought a new position in Rush Enterprises during the third quarter valued at approximately $421,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares of the company’s stock, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William M. Rusty Rush sold 117,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the transaction, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their ownership of the stock. 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 quarter. Insiders own 12.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens increased their price target on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $60.00 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market capitalization of $4.74 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.24 and a beta of 0.99. The business has a 50-day moving average of $55.11 and a two-hundred day moving average of $49.80. Rush Enterprises, Inc. has a fifty-two week low of $38.43 and a fifty-two week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. Rush Enterprises’s payout ratio is presently 19.10%.

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.