Jennison Associates LLC Purchases 373,531 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Jennison Associates LLC lifted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 882,911 shares of the company's stock after buying an additional 373,531 shares during the quarter. Jennison Associates LLC owned about 1.11% of Rush Enterprises worth $47,156,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock worth $62,000 after purchasing an additional 616 shares during the period. GAMMA Investing LLC boosted its position in Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after purchasing an additional 288 shares during the period. PNC Financial Services Group Inc. boosted its position in Rush Enterprises by 71.0% during 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 during the period. Sterling Capital Management LLC boosted its position in Rush Enterprises by 833.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock worth $107,000 after purchasing an additional 1,751 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Rush Enterprises during the fourth quarter worth approximately $210,000. Institutional investors own 84.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RUSHA. Stephens decreased their price target on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th.

Insider Buying and Selling

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

Rush Enterprises Stock Performance

Shares of RUSHA traded down $1.98 during trading hours on Friday, reaching $50.67. 438,852 shares of the company traded hands, compared to its average volume of 402,174. The business has a fifty day moving average price of $51.31 and a 200-day moving average price of $53.94. The stock has a market capitalization of $3.94 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.43 and a beta of 0.88. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43. The company has a quick ratio of 0.32, a current ratio of 1.44 and a debt-to-equity ratio of 0.22.

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

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises's dividend payout ratio is currently 20.11%.

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.