Rush Enterprises, Inc. $RUSHA Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Rush Enterprises, owning approximately 2.80% of the company after purchasing an additional 41,407 shares during the first quarter.
• Rush Enterprises reported a $0.90 EPS for the last quarter, exceeding analyst expectations, and announced an increase in its quarterly dividend to $0.19 per share.
• Analysts have mixed ratings on Rush Enterprises, with Wall Street Zen lowering their rating to "hold" while others maintain an "overweight" rating, reflecting a consensus rating of "Buy" overall.

T. Rowe Price Investment Management Inc. lifted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,218,650 shares of the company's stock after buying an additional 41,407 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.80% of Rush Enterprises worth $118,499,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its position in Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after buying an additional 217 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Rush Enterprises by 121.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after purchasing an additional 616 shares during the period. GAMMA Investing LLC increased its holdings in Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after buying an additional 288 shares during the last quarter. Cerity Partners LLC bought a new position in Rush Enterprises in the 1st quarter worth $207,000. Finally, Two Sigma Investments LP purchased a new position in shares of Rush Enterprises during the 4th quarter valued at about $210,000. Institutional investors own 84.43% of the company's stock.

Rush Enterprises Price Performance

Shares of RUSHA stock traded up $0.03 on Tuesday, reaching $58.21. The company's stock had a trading volume of 160,883 shares, compared to its average volume of 418,558. The stock's fifty day simple moving average is $53.89 and its 200-day simple moving average is $53.29. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.66 and a beta of 0.85. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be given a $0.19 dividend. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.3%. Rush Enterprises's dividend payout ratio is currently 21.65%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RUSHA. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Rush Enterprises currently has a consensus rating of "Buy" and a consensus target price of $61.00.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director owned 15,771 shares in the company, valued at approximately $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jason Wilder sold 4,980 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the transaction, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock worth $862,104 over the last quarter. Company insiders own 12.28% of the company's stock.

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.