KLP Kapitalforvaltning AS Purchases New Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,500 shares of the company's stock, valued at approximately $685,000.

Several other hedge funds have also bought and sold shares of the business. Jennison Associates LLC grew its stake in shares of Rush Enterprises by 1,398.4% in the fourth quarter. Jennison Associates LLC now owns 509,380 shares of the company's stock worth $27,909,000 after acquiring an additional 475,384 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Rush Enterprises by 5,379.0% in the 4th quarter. Proficio Capital Partners LLC now owns 334,822 shares of the company's stock worth $18,345,000 after purchasing an additional 328,711 shares in the last quarter. Janus Henderson Group PLC grew its position in Rush Enterprises by 148.1% during the 3rd quarter. Janus Henderson Group PLC now owns 308,204 shares of the company's stock valued at $16,282,000 after purchasing an additional 183,965 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Rush Enterprises during the 4th quarter valued at about $9,822,000. Finally, Strategic Financial Concepts LLC purchased a new position in Rush Enterprises in the fourth quarter worth about $5,760,000. Institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Performance

NASDAQ RUSHA traded down $1.36 during trading hours on Friday, hitting $50.36. The company's stock had a trading volume of 857,691 shares, compared to its average volume of 348,047. Rush Enterprises, Inc. has a 12 month low of $40.99 and a 12 month high of $65.43. The company's 50 day simple moving average is $56.94 and its two-hundred day simple moving average is $56.90. 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 company has a market cap of $3.99 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

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Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.09. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.18 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. Rush Enterprises's payout ratio is 19.30%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 4,000 shares of the firm's 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 sale, the director now owns 15,771 shares in the company, valued at approximately $922,918.92. This trade represents a 20.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 of the company's stock, valued at approximately $175,892.31. The trade was a 78.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.53% of the company's stock.

Analysts Set New Price Targets

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

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.