Intech Investment Management LLC Takes Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Intech Investment Management LLC bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,834 shares of the company's stock, valued at approximately $1,523,000.

Several other institutional investors also recently added to or reduced their stakes in RUSHA. Vaughan Nelson Investment Management L.P. increased its stake in 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 worth $62,677,000 after buying an additional 138,488 shares during the period. Edgestream Partners L.P. increased its position in Rush Enterprises by 678.7% during the 2nd quarter. Edgestream Partners L.P. now owns 130,602 shares of the company's stock valued at $5,468,000 after purchasing an additional 113,831 shares during the period. Cooke & Bieler LP increased its position in Rush Enterprises by 10.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company's stock valued at $45,752,000 after purchasing an additional 100,318 shares during the period. Strategic Financial Concepts LLC purchased a new position in Rush Enterprises during the 2nd quarter valued at about $41,000. Finally, Castleark Management LLC purchased a new position in Rush Enterprises during the 1st quarter valued at about $4,637,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Activity

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

Rush Enterprises Stock Performance

RUSHA traded down $1.13 during trading on Tuesday, reaching $61.74. 261,116 shares of the company's stock were exchanged, compared to its average volume of 362,025. Rush Enterprises, Inc. has a 1 year low of $38.43 and a 1 year high of $65.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market capitalization of $4.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The company's fifty day simple moving average is $55.36 and its 200-day simple moving average is $49.95.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises's dividend payout ratio (DPR) is 19.10%.

Wall Street Analyst Weigh In

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

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.