Norges Bank Takes $10.13 Million Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Norges Bank bought a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 184,828 shares of the company's stock, valued at approximately $10,127,000. Norges Bank owned approximately 0.23% of Rush Enterprises at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Alpha Capital Management Ltd. increased its position in shares of Rush Enterprises by 2.0% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 789,190 shares of the company's stock valued at $43,240,000 after acquiring an additional 15,200 shares in the last quarter. Costello Asset Management INC increased its holdings in shares of Rush Enterprises by 3,793.9% in the 4th quarter. Costello Asset Management INC now owns 42,833 shares of the company's stock worth $2,347,000 after purchasing an additional 41,733 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Rush Enterprises by 4.9% in the fourth quarter. Natixis Advisors LLC now owns 247,586 shares of the company's stock worth $13,566,000 after purchasing an additional 11,658 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Rush Enterprises by 82.6% during the fourth quarter. EMC Capital Management now owns 9,603 shares of the company's stock valued at $526,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Rush Enterprises in the 4th quarter worth about $5,760,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Mcroberts sold 4,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. Following the transaction, the director now owns 15,771 shares of the company's stock, valued at $922,918.92. This trade represents a 20.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.53% of the company's stock.

Rush Enterprises Stock Performance

Shares of RUSHA traded up $0.84 on Friday, reaching $52.84. The company's stock had a trading volume of 497,946 shares, compared to its average volume of 357,431. The stock's 50 day simple moving average is $55.70 and its two-hundred day simple moving average is $56.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28. The stock has a market capitalization of $4.19 billion, a P/E ratio of 14.17, a PEG ratio of 1.04 and a beta of 0.96. Rush Enterprises, Inc. has a 12-month low of $40.99 and a 12-month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Research analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. Rush Enterprises's payout ratio is currently 19.30%.

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.