William Blair Investment Management LLC Sells 56,928 Shares of Rush Enterprises, Inc. $RUSHA

William Blair Investment Management LLC lessened its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 993,667 shares of the company’s stock after selling 56,928 shares during the quarter. William Blair Investment Management LLC’s holdings in Rush Enterprises were worth $53,131,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after acquiring an additional 6,994 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Rush Enterprises by 14.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock valued at $63,054,000 after purchasing an additional 148,363 shares during the last quarter. American Century Companies Inc. grew its position 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 valued at $62,743,000 after purchasing an additional 326,917 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Rush Enterprises by 4.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after purchasing an additional 36,600 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Rush Enterprises by 91.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock worth $32,392,000 after purchasing an additional 301,119 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the completion of the transaction, the senior vice president owned 3,385 shares of the company’s stock, valued at approximately $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total transaction of $566,480.00. Following the completion of the sale, the director owned 16,229 shares in the company, valued at approximately $1,149,175.49. The trade was a 33.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,750 shares of company stock valued at $1,698,950. Corporate insiders own 12.28% of the company’s stock.

Rush Enterprises Trading Down 0.9%

RUSHA opened at $70.97 on Monday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 0.87 and a beta of 0.91. 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 twelve month low of $45.67 and a twelve month high of $75.99. The company has a 50-day simple moving average of $64.06 and a 200 day simple moving average of $57.27.

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

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. Rush Enterprises’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stephens reiterated an “overweight” rating and set a $80.00 price objective (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. UBS Group restated a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Moderate Buy” and a consensus 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.