William Blair Investment Management LLC Has $53.13 Million Position in Rush Enterprises, Inc. $RUSHA

William Blair Investment Management LLC cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 993,667 shares of the company’s stock after selling 56,928 shares during the quarter. William Blair Investment Management LLC owned about 1.28% of Rush Enterprises worth $53,131,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in Rush Enterprises by 250.0% in the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after buying an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the period. Federated Hermes Inc. raised its holdings in shares of Rush Enterprises by 122.1% during the third quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock worth $42,000 after acquiring an additional 436 shares during the period. PNC Financial Services Group Inc. lifted its position in Rush Enterprises by 70.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock valued at $51,000 after acquiring an additional 392 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Rush Enterprises in the 2nd quarter worth $73,000. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $70.97 on Monday. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $75.99. The company has a current ratio of 1.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $64.06 and a 200 day simple moving average of $57.27. The stock has a market capitalization of $5.47 billion, a PE ratio of 21.70, a P/E/G ratio of 0.87 and a beta of 0.91.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 3rd. Rush Enterprises’s dividend payout ratio (DPR) is 23.24%.

Insider Activity at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the completion of the transaction, the senior vice president owned 3,385 shares in the company, valued at approximately $243,449.20. This trade represents a 76.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total value of $323,370.00. Following the completion of the sale, the senior vice president owned 12,590 shares in the company, valued at $904,717.40. This represents a 26.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,750 shares of company stock worth $1,698,950. Insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Stephens reissued an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.50.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.