GW&K Investment Management LLC Acquires 24,781 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• GW&K Investment Management LLC increased its Rush Enterprises stake by 7.6% in the fourth quarter, buying 24,781 additional shares and bringing its total holding to 350,952 shares worth about $18.9 million.
• Several other major institutional investors also boosted positions in RUSHA, and institutions now own 84.43% of the company, while insiders own 12.68%.
• Rush Enterprises reported better-than-expected EPS of $0.77 on revenue of $1.68 billion, and it recently paid a quarterly dividend of $0.19 per share, equal to a 1.1% annual yield.

GW&K Investment Management LLC boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,952 shares of the company's stock after acquiring an additional 24,781 shares during the quarter. GW&K Investment Management LLC owned 0.46% of Rush Enterprises worth $18,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RUSHA. Goldman Sachs Group Inc. increased its stake in Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company's stock valued at $51,566,000 after acquiring an additional 607,047 shares during the period. Millennium Management LLC increased its stake in Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company's stock valued at $28,924,000 after acquiring an additional 398,721 shares during the period. Cooke & Bieler LP increased its stake in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company's stock valued at $39,336,000 after acquiring an additional 335,019 shares during the period. American Century Companies Inc. increased its stake in Rush Enterprises by 38.6% in the third quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock valued at $62,743,000 after acquiring an additional 326,917 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Rush Enterprises by 91.9% in the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company's stock valued at $32,392,000 after acquiring an additional 301,119 shares during the period. Institutional investors own 84.43% of the company's stock.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.68% of the company's stock.

Analyst Upgrades and Downgrades

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

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $67.77 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.45 and a beta of 0.88. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $76.99. The firm's 50-day moving average price is $70.20 and its two-hundred day moving average price is $65.06.

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

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises's dividend 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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