Bridges Investment Management Inc. Has $2.13 Million Stake in Rush Enterprises, Inc. $RUSHA

Key Points

• Bridges Investment Management Inc. increased its stake in Rush Enterprises by 15.4%, holding 41,250 shares worth approximately $2.13 million as of the last quarter.
• Wall Street analysts have mixed ratings on Rush Enterprises, with two analysts rating it as a "Buy" and a consensus price target of $61.00.
• Rush Enterprises recently raised its quarterly dividend from $0.18 to $0.19, reflecting a yield of 1.5% on an annualized basis.

Bridges Investment Management Inc. boosted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 15.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,250 shares of the company's stock after buying an additional 5,501 shares during the quarter. Bridges Investment Management Inc. owned approximately 0.05% of Rush Enterprises worth $2,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RUSHA. Jennison Associates LLC boosted its stake in Rush Enterprises by 73.3% in the first quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after purchasing an additional 373,531 shares in the last quarter. Nuveen LLC acquired a new position in Rush Enterprises in the first quarter worth $9,667,000. Jane Street Group LLC boosted its stake in Rush Enterprises by 605.6% in the first quarter. Jane Street Group LLC now owns 153,189 shares of the company's stock worth $8,182,000 after purchasing an additional 131,480 shares in the last quarter. American Century Companies Inc. boosted its stake in Rush Enterprises by 423.4% in the first quarter. American Century Companies Inc. now owns 132,259 shares of the company's stock worth $7,064,000 after purchasing an additional 106,991 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Rush Enterprises by 12.0% in the first quarter. Northern Trust Corp now owns 879,554 shares of the company's stock worth $46,977,000 after purchasing an additional 94,271 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on RUSHA shares. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Rush Enterprises in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $61.00.

Rush Enterprises Trading Down 0.5%

Shares of RUSHA opened at $51.11 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 12-month low of $47.06 and a 12-month high of $65.43. The firm has a market capitalization of $3.98 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. The stock's fifty day simple moving average is $55.61 and its 200-day simple moving average is $53.03.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Thursday, May 20th. The company reported $0.79 EPS for the quarter. The business had revenue of $1.23 billion during the quarter. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, August 12th were issued a $0.19 dividend. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, August 12th. Rush Enterprises's dividend payout ratio is currently 21.65%.

Insider Activity at Rush Enterprises

In related news, COO Jason Wilder sold 4,980 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the sale, the chief operating officer owned 79,692 shares in the company, valued at approximately $4,426,890.60. This represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Mcroberts sold 6,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director owned 15,771 shares of the company's stock, valued at $861,727.44. This represents a 27.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by 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.

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