JPMorgan Chase & Co. Decreases Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

JPMorgan Chase & Co. lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,859,136 shares of the company’s stock after selling 91,375 shares during the quarter. JPMorgan Chase & Co. owned 2.35% of Rush Enterprises worth $101,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RUSHA. Smartleaf Asset Management LLC increased its position in Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after buying an additional 703 shares in the last quarter. GAMMA Investing LLC increased its position in Rush Enterprises by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock worth $54,000 after purchasing an additional 192 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Rush Enterprises in the 3rd quarter valued at about $64,000. PNC Financial Services Group Inc. lifted its holdings in Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock valued at $79,000 after purchasing an additional 596 shares in the last quarter. Finally, Quarry LP lifted its holdings in Rush Enterprises by 86.0% in the 3rd quarter. Quarry LP now owns 1,605 shares of the company’s stock valued at $85,000 after purchasing an additional 742 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Price Performance

RUSHA stock opened at $56.03 on Thursday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 52-week low of $40.99 and a 52-week high of $65.43. The stock’s fifty day simple moving average is $57.33 and its 200-day simple moving average is $56.86.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. Equities research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Monday, March 3rd. Rush Enterprises’s dividend payout ratio is currently 19.30%.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an “overweight” rating and issued a $69.00 price objective on shares of Rush Enterprises in a research report on Wednesday, February 19th.

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the transaction, the director now directly owns 15,771 shares of the company’s stock, valued at $922,918.92. The trade was a 20.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jody Pollard sold 11,250 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total transaction of $634,837.50. Following the sale, the senior vice president now directly owns 3,117 shares of the company’s stock, valued at approximately $175,892.31. This trade represents a 78.30 % decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is owned by company insiders.

Rush Enterprises 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.