Cooke & Bieler LP Buys 335,019 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Cooke & Bieler LP increased its stake in Rush Enterprises by 85% in the fourth quarter, buying 335,019 additional shares and bringing its total to 729,250 shares worth about $39.3 million.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, though revenue of $1.68 billion came in below analyst expectations. The company also guided to full-year EPS of 3.79.
• The company declared a quarterly dividend of $0.19 per share, payable June 10, for an annualized yield of about 1.1%. Meanwhile, analysts are mixed, with a consensus rating of Hold and an average price target of $83.67.

Cooke & Bieler LP boosted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,250 shares of the company's stock after acquiring an additional 335,019 shares during the period. Cooke & Bieler LP owned about 0.95% of Rush Enterprises worth $39,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RUSHA. CIBC Private Wealth Group LLC grew its holdings in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Rush Enterprises in the 3rd quarter worth $34,000. Allworth Financial LP grew its stake in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after buying an additional 637 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Rush Enterprises during the 4th quarter worth $37,000. Institutional investors own 84.43% of the company's stock.

Insider Transactions at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond Joseph Chess sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were 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 of the company's stock, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 12.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RUSHA. Zacks Research cut shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Wolfe Research assumed coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an "outperform" rating and a $88.00 target price on the stock. Stephens restated an "overweight" rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rush Enterprises has a consensus rating of "Hold" and an average price target of $83.67.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $68.89 on Tuesday. The business has a 50-day moving average price of $69.26 and a 200 day moving average price of $63.36. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.46 and a beta of 0.93. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

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

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. Rush Enterprises's payout ratio is presently 22.96%.

About Rush Enterprises

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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