Principal Financial Group Inc. Increases Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Principal Financial Group Inc. raised its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 1,544.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 336,876 shares of the company's stock after buying an additional 316,393 shares during the quarter. Principal Financial Group Inc. owned 0.42% of Rush Enterprises worth $16,945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP raised its position in Rush Enterprises by 891.2% during the third quarter. Gladius Capital Management LP now owns 1,120 shares of the company's stock valued at $46,000 after buying an additional 1,007 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Rush Enterprises by 50.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,290 shares of the company's stock worth $94,000 after purchasing an additional 763 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Rush Enterprises during the fourth quarter worth approximately $135,000. Essex Savings Bank acquired a new stake in shares of Rush Enterprises during the fourth quarter worth approximately $204,000. Finally, Essex Financial Services Inc. purchased a new position in Rush Enterprises during the fourth quarter valued at approximately $204,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, SVP Jason Wilder sold 11,250 shares of the company's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $46.23, for a total transaction of $520,087.50. Following the completion of the transaction, the senior vice president now owns 534 shares of the company's stock, valued at approximately $24,686.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.53% of the stock is owned by corporate insiders.

Rush Enterprises Price Performance

Shares of RUSHA traded down $0.72 during trading hours on Thursday, hitting $43.78. The stock had a trading volume of 305,795 shares, compared to its average volume of 364,991. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 2.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 0.28. The company's fifty day moving average is $48.50 and its two-hundred day moving average is $45.77. Rush Enterprises, Inc. has a 52 week low of $34.53 and a 52 week high of $53.78.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.08. Rush Enterprises had a net margin of 4.16% and a return on equity of 17.16%. The business had revenue of $1.87 billion during the quarter. During the same period in the prior year, the business earned $1.07 EPS. On average, analysts anticipate that Rush Enterprises, Inc. will post 2.98 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 9th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, May 8th. Rush Enterprises's dividend payout ratio (DPR) is 17.19%.

Analysts Set New Price Targets

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

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.