JPMorgan Chase & Co. Reduces Stock Holdings in Rush Enterprises, Inc. $RUSHA

JPMorgan Chase & Co. cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,452,286 shares of the company’s stock after selling 100,614 shares during the quarter. JPMorgan Chase & Co. owned about 1.87% of Rush Enterprises worth $77,654,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. grew its position in Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after purchasing an additional 714,253 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of Rush Enterprises by 664.8% during the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock worth $5,098,000 after buying an additional 86,023 shares during the period. Segall Bryant & Hamill LLC increased its position in shares of Rush Enterprises by 2.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock valued at $26,023,000 after acquiring an additional 14,387 shares during the period. EULAV Asset Management raised its stake in Rush Enterprises by 17.1% in the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock worth $14,763,000 after acquiring an additional 40,378 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. raised its stake in Rush Enterprises by 4.5% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after acquiring an additional 36,600 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $70.81, for a total value of $566,480.00. Following the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,149,175.49. The trade was a 33.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $71.86, for a total value of $323,370.00. Following the sale, the senior vice president owned 12,590 shares of the company’s stock, valued at $904,717.40. The trade was a 26.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,750 shares of company stock valued at $1,698,950. 12.28% of the stock is owned by corporate insiders.

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $73.27 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $75.99. The stock’s 50-day moving average price is $62.86 and its 200-day moving average price is $56.84. The stock has a market capitalization of $5.65 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. UBS Group reiterated a “neutral” rating and issued a $73.00 target price (up previously from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Weiss Ratings lowered shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 10th. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Stephens reiterated an “overweight” rating and issued a $80.00 price objective (up previously from $55.00) on shares of Rush Enterprises in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.50.

Rush Enterprises Company 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.