Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,950,511 shares of the company’s stock after selling 30,684 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.47% of Rush Enterprises worth $103,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its position in shares of Rush Enterprises by 34.8% during the 3rd quarter. FMR LLC now owns 5,174,262 shares of the company’s stock valued at $273,356,000 after buying an additional 1,336,528 shares during the period. State Street Corp increased its stake in Rush Enterprises by 0.7% during the third quarter. State Street Corp now owns 2,349,597 shares of the company’s stock worth $124,129,000 after acquiring an additional 16,082 shares during the last quarter. Geode Capital Management LLC raised its position in Rush Enterprises by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock valued at $85,390,000 after purchasing an additional 16,803 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Rush Enterprises by 13.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after purchasing an additional 138,488 shares during the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Rush Enterprises by 10.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after purchasing an additional 100,318 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Up 0.8 %

RUSHA stock opened at $54.79 on Thursday. The company’s 50 day moving average price is $59.04 and its 200 day moving average price is $52.60. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.14 and a beta of 1.00. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.64 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, November 12th. Rush Enterprises’s payout ratio is 19.10%.

Insider Activity at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven L. Keller sold 14,625 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.50, for a total transaction of $855,562.50. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $4,876,852.50. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $11,167,173 over the last three months. 12.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Stephens lifted their target price on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Company 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.