Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by First Pacific Advisors LP

First Pacific Advisors LP trimmed its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,637 shares of the company's stock after selling 11,305 shares during the period. First Pacific Advisors LP owned 0.22% of Rush Enterprises worth $9,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RUSHA. PNC Financial Services Group Inc. grew its stake in Rush Enterprises by 71.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock worth $79,000 after purchasing an additional 596 shares in the last quarter. HighTower Advisors LLC bought a new position in Rush Enterprises in the fourth quarter worth about $234,000. Commonwealth Equity Services LLC lifted its holdings in Rush Enterprises by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,183 shares of the company's stock worth $613,000 after acquiring an additional 186 shares during the last quarter. Xponance Inc. lifted its holdings in Rush Enterprises by 35.9% in the fourth quarter. Xponance Inc. now owns 8,608 shares of the company's stock worth $472,000 after acquiring an additional 2,272 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Rush Enterprises by 18.0% in the fourth quarter. Teacher Retirement System of Texas now owns 5,169 shares of the company's stock worth $283,000 after acquiring an additional 789 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Jason Wilder sold 748 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the transaction, the chief operating officer owned 84,672 shares in the company, valued at $4,748,405.76. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $52.10, for a total transaction of $234,450.00. Following the transaction, the senior vice president owned 12,510 shares in the company, 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 ninety days, insiders have sold 5,731 shares of company stock worth $303,634. Corporate insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

Shares of RUSHA traded up $0.57 during mid-day trading on Friday, reaching $54.82. 280,619 shares of the company's stock traded hands, compared to its average volume of 469,412. The business's 50-day moving average price is $51.48 and its 200-day moving average price is $53.88. The stock has a market capitalization of $4.27 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. Rush Enterprises, Inc. has a 12 month low of $46.30 and a 12 month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.86 billion. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. Equities analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, May 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. Rush Enterprises's dividend payout ratio (DPR) is presently 20.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RUSHA. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens cut their target price on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd.

Rush Enterprises Company 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.