Geode Capital Management LLC Cuts Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Geode Capital Management LLC cut its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,603,060 shares of the company's stock after selling 12,988 shares during the period. Geode Capital Management LLC owned approximately 2.03% of Rush Enterprises worth $87,849,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RUSHA. Smartleaf Asset Management LLC raised its holdings in shares of Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $46,000 after purchasing an additional 703 shares during the last quarter. GAMMA Investing LLC increased its position in Rush Enterprises by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 979 shares of the company's stock valued at $54,000 after acquiring an additional 192 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Rush Enterprises in the third quarter worth about $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock worth $79,000 after purchasing an additional 596 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Rush Enterprises during the fourth quarter valued at approximately $179,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Activity at Rush Enterprises

In other news, Director Michael Mcroberts sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $58.52, for a total transaction of $234,080.00. Following the transaction, the director now directly owns 15,771 shares in the company, valued at $922,918.92. The trade was a 20.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total value of $634,837.50. Following the transaction, the senior vice president now owns 3,117 shares in the company, valued at approximately $175,892.31. The trade was a 78.30 % decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises Price Performance

Shares of RUSHA stock traded down $0.50 during trading hours on Wednesday, hitting $52.22. The stock had a trading volume of 165,920 shares, compared to its average volume of 358,099. Rush Enterprises, Inc. has a one year low of $40.99 and a one year high of $65.43. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.04 and a beta of 0.96. The stock's 50-day moving average price is $55.37 and its two-hundred day moving average price is $56.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.09. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Equities analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 3rd were given a dividend of $0.18 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. Rush Enterprises's dividend payout ratio (DPR) is presently 19.30%.

Wall Street Analysts Forecast Growth

Separately, Stephens restated an "overweight" rating and set a $69.00 target price on shares of Rush Enterprises in a research note on Wednesday, February 19th.

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.