Summit Global Investments Makes New $1.58 Million Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Summit Global Investments bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,435 shares of the company's stock, valued at approximately $1,581,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Rush Enterprises by 49.0% during the third quarter. Vanguard Group Inc. now owns 6,915,478 shares of the company's stock worth $282,359,000 after buying an additional 2,274,689 shares in the last quarter. Wellington Management Group LLP raised its stake in Rush Enterprises by 49.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company's stock valued at $252,863,000 after purchasing an additional 2,041,125 shares during the last quarter. FMR LLC lifted its holdings in Rush Enterprises by 51.7% in the 3rd quarter. FMR LLC now owns 3,581,306 shares of the company's stock valued at $146,225,000 after purchasing an additional 1,220,003 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rush Enterprises by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,048 shares of the company's stock worth $103,343,000 after purchasing an additional 744,310 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rush Enterprises by 52.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 965,654 shares of the company's stock worth $39,428,000 after buying an additional 331,041 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Trading Up 0.8 %

RUSHA traded up $0.35 during trading on Friday, hitting $43.70. 403,279 shares of the company's stock were exchanged, compared to its average volume of 383,024. The stock has a 50 day moving average price of $49.23 and a 200 day moving average price of $44.97. Rush Enterprises, Inc. has a 1 year low of $33.37 and a 1 year high of $53.78. The company has a current ratio of 1.43, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.40 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $1.87 billion during the quarter. Rush Enterprises had a return on equity of 17.16% and a net margin of 4.16%. During the same period in the previous year, the company earned $1.07 EPS. As a group, analysts expect that Rush Enterprises, Inc. will post 2.92 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.56%. Rush Enterprises's dividend payout ratio is presently 17.19%.

Analyst Upgrades and Downgrades

Separately, Stephens restated an "overweight" rating and set a $60.00 price objective on shares of Rush Enterprises in a report on Wednesday, April 24th.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the sale, the senior vice president now directly owns 2,777 shares in the company, valued at approximately $134,073.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.53% of the company's stock.

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.

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