Edgestream Partners L.P. Trims Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Edgestream Partners L.P. lowered its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,939 shares of the company's stock after selling 9,415 shares during the quarter. Edgestream Partners L.P.'s holdings in Rush Enterprises were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Rush Enterprises by 6.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock valued at $69,552,000 after acquiring an additional 79,499 shares during the last quarter. Beck Mack & Oliver LLC increased its position in Rush Enterprises by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company's stock valued at $58,821,000 after purchasing an additional 5,823 shares during the period. Northern Trust Corp raised its holdings in shares of Rush Enterprises by 5.9% in the 4th quarter. Northern Trust Corp now owns 785,283 shares of the company's stock valued at $43,026,000 after purchasing an additional 43,437 shares in the last quarter. Deutsche Bank AG increased its holdings in Rush Enterprises by 2.1% during the fourth quarter. Deutsche Bank AG now owns 677,750 shares of the company's stock valued at $37,134,000 after buying an additional 13,745 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in Rush Enterprises by 35.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company's stock worth $25,689,000 after buying an additional 121,577 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Analysts Set New Price Targets

RUSHA has been the subject of several research analyst reports. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens cut their price objective on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, May 2nd.

Insiders Place Their Bets

In related news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the completion of the sale, the senior vice president owned 12,510 shares in the company, valued at $651,771. This trade represents a 26.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $41,947.84. Following the completion of the sale, the chief operating officer directly owned 84,672 shares of the company's stock, valued at $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,731 shares of company stock valued at $303,634. 12.28% of the stock is owned by company insiders.

Rush Enterprises Stock Up 4.5%

Shares of NASDAQ:RUSHA traded up $2.28 during trading on Tuesday, hitting $52.71. The company's stock had a trading volume of 165,370 shares, compared to its average volume of 401,265. The company has a market capitalization of $4.10 billion, a PE ratio of 14.72, a P/E/G ratio of 1.43 and a beta of 0.88. The business has a 50 day moving average price of $51.31 and a two-hundred day moving average price of $53.93. Rush Enterprises, Inc. has a fifty-two week low of $46.30 and a fifty-two week high of $65.43. 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 (NASDAQ:RUSHA - Get Free Report) last posted 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. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.86 billion. As a group, research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises's dividend payout ratio is currently 20.11%.

About Rush Enterprises

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.