Rush Enterprises, Inc. $RUSHA Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management cut its Rush Enterprises stake by 76.7% in the fourth quarter, selling 762,325 shares and leaving it with 231,342 shares worth about $12.5 million.
• Several insiders also sold shares, including Director Raymond Joseph Chess and Director Michael McRoberts, while institutional investors continue to own 84.43% of the stock.
• Rush Enterprises reported better-than-expected quarterly EPS of $0.77, announced a quarterly dividend of $0.19 per share, and has a Wall Street consensus rating of Hold with an average price target of $83.67.

William Blair Investment Management LLC decreased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 76.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,342 shares of the company's stock after selling 762,325 shares during the period. William Blair Investment Management LLC owned approximately 0.30% of Rush Enterprises worth $12,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its holdings in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA lifted its position 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 acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the 3rd quarter worth $34,000. Allworth Financial LP boosted its stake in shares of 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 acquiring an additional 637 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of Rush Enterprises in the 4th quarter worth $37,000. Institutional investors and hedge funds own 84.43% of the company's stock.

Insider Transactions at Rush Enterprises

In other news, Director Raymond Joseph Chess sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the transaction, the director owned 41,170 shares in the company, valued at $2,678,108.50. This represents a 19.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction 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. This trade represents a 33.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 12.68% of the company's stock.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $68.89 on Tuesday. The company's fifty day moving average is $69.26 and its two-hundred day moving average is $63.36. The company has a market cap of $5.35 billion, a P/E ratio of 20.81, a price-to-earnings-growth 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 quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

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

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th will be given 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 yield of 1.1%. Rush Enterprises's dividend payout ratio (DPR) is presently 22.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 25th. Stephens restated an "overweight" rating and set a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.67.

Rush Enterprises Company Profile

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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