12th Street Asset Management Company LLC Trims Position in Rush Enterprises, Inc. $RUSHA

Key Points

• 12th Street Asset Management cut its Rush Enterprises stake by 15.9% in the fourth quarter, selling 20,665 shares and leaving it with 109,403 shares valued at about $5.9 million.
• Rush Enterprises reported Q1 earnings of $0.77 per share, topping estimates, though revenue of $1.68 billion came in below expectations of $1.73 billion.
• The company declared a quarterly dividend of $0.19 per share and saw mixed analyst sentiment, with an average rating of Hold and a consensus price target of $83.67.

12th Street Asset Management Company LLC lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 109,403 shares of the company's stock after selling 20,665 shares during the quarter. Rush Enterprises makes up about 1.0% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 25th biggest position. 12th Street Asset Management Company LLC owned 0.14% of Rush Enterprises worth $5,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its holdings in Rush Enterprises by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company's stock valued at $12,776,000 after acquiring an additional 30,293 shares during the last quarter. American Century Companies Inc. increased its stake in Rush Enterprises by 38.6% during the third quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock worth $62,743,000 after acquiring an additional 326,917 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Rush Enterprises by 21.3% in the 3rd quarter. Natixis Advisors LLC now owns 225,381 shares of the company's stock worth $12,051,000 after purchasing an additional 39,604 shares during the period. Elo Mutual Pension Insurance Co purchased a new position in shares of Rush Enterprises in the 3rd quarter worth about $978,000. Finally, SG Americas Securities LLC lifted its stake in shares of Rush Enterprises by 63.9% in the 4th quarter. SG Americas Securities LLC now owns 27,040 shares of the company's stock valued at $1,459,000 after purchasing an additional 10,545 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond Joseph Chess sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the sale, the director directly owned 41,170 shares in the company, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.68% of the company's stock.

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $68.89 on Tuesday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99. The stock has a 50-day simple moving average of $69.26 and a 200 day simple moving average of $63.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.73 billion. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is presently 22.96%.

Analysts Set New Price Targets

RUSHA has been the subject of several recent research reports. Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target for the company. UBS Group increased their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 25th. Finally, Stephens restated an "overweight" rating and set a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.67.

Rush Enterprises 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.

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