Allspring Global Investments Holdings LLC Grows Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Allspring Global Investments Holdings LLC boosted its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,893 shares of the company's stock after purchasing an additional 6,210 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.12% of Rush Enterprises worth $5,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RUSHA. Bank of New York Mellon Corp lifted its position in shares of Rush Enterprises by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 624,103 shares of the company's stock worth $34,195,000 after purchasing an additional 3,386 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Rush Enterprises by 475.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $46,000 after purchasing an additional 703 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Rush Enterprises by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,995 shares of the company's stock valued at $40,709,000 after purchasing an additional 26,254 shares during the period. Keybank National Association OH bought a new position in Rush Enterprises during the fourth quarter worth about $294,000. Finally, Victory Capital Management Inc. increased its position in Rush Enterprises by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 128,460 shares of the company's stock worth $7,038,000 after acquiring an additional 5,581 shares during the period. Institutional investors and hedge funds own 84.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stephens reduced their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Rush Enterprises from a "hold" rating to a "buy" rating in a report on Saturday.

Rush Enterprises Price Performance

Shares of RUSHA traded up $0.70 during midday trading on Wednesday, hitting $53.73. 283,195 shares of the company traded hands, compared to its average volume of 402,018. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 0.32. Rush Enterprises, Inc. has a one year low of $41.18 and a one year high of $65.43. The firm has a market cap of $4.18 billion, a P/E ratio of 15.01, a PEG ratio of 1.50 and a beta of 0.88. The stock has a 50-day moving average of $50.77 and a 200-day moving average of $54.04.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.86 billion. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. As a group, sell-side analysts predict 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 was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is currently 20.11%.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer owned 84,672 shares of the company's stock, valued at approximately $4,748,405.76. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the transaction, the senior vice president directly owned 12,510 shares of the company's stock, valued at $651,771. This represents a 26.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,731 shares of company stock worth $303,634. 12.28% of the stock is currently owned by company insiders.

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.