Cibc World Markets Corp Buys Shares of 5,693 Rush Enterprises, Inc. (NASDAQ:RUSHA)

Cibc World Markets Corp purchased a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,693 shares of the company's stock, valued at approximately $312,000.

Several other hedge funds also recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in shares of Rush Enterprises during the third quarter valued at about $1,523,000. Charles Schwab Investment Management Inc. increased its position in shares of Rush Enterprises by 14.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 716,741 shares of the company's stock valued at $37,865,000 after purchasing an additional 90,537 shares during the period. Citigroup Inc. raised its stake in shares of Rush Enterprises by 39.9% in the third quarter. Citigroup Inc. now owns 106,635 shares of the company's stock valued at $5,634,000 after purchasing an additional 30,399 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Rush Enterprises during the third quarter worth $247,000. Finally, FMR LLC increased its holdings in Rush Enterprises by 34.8% in 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. 84.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction that occurred 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 completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jody Pollard sold 11,250 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total transaction of $634,837.50. Following the completion of the transaction, the senior vice president now owns 3,117 shares in the company, valued at $175,892.31. This represents a 78.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is owned by company insiders.

Rush Enterprises Price Performance

Rush Enterprises stock traded down $1.66 during mid-day trading on Friday, hitting $53.57. 276,968 shares of the company were exchanged, compared to its average volume of 341,850. The company has a market capitalization of $4.25 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The business has a fifty day moving average of $57.79 and a 200 day moving average of $56.64. Rush Enterprises, Inc. has a 1-year low of $40.99 and a 1-year high of $65.43. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23.

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

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Monday, March 3rd. Rush Enterprises's dividend payout ratio is presently 19.30%.

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.