Rush Enterprises, Inc. (NASDAQ:RUSHA) Stake Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 324.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,400 shares of the company's stock after buying an additional 31,657 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of Rush Enterprises worth $2,187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Rush Enterprises by 5,183.0% during the 3rd quarter. International Assets Investment Management LLC now owns 18,913 shares of the company's stock worth $999,000 after buying an additional 18,555 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Rush Enterprises by 266.1% in the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company's stock valued at $37,000 after purchasing an additional 511 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Rush Enterprises by 70.6% in the 3rd quarter. nVerses Capital LLC now owns 2,900 shares of the company's stock valued at $153,000 after purchasing an additional 1,200 shares during the last quarter. Creative Planning purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at approximately $316,000. Finally, Retirement Planning Group LLC purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at approximately $625,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Activity

In other Rush Enterprises news, SVP Jason Wilder sold 4,500 shares of the business's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the transaction, the senior vice president now owns 534 shares in the company, valued at $27,597.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO William M. Rusty Rush sold 40,000 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at approximately $9,371,226.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jason Wilder sold 4,500 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the sale, the senior vice president now owns 534 shares in the company, valued at $27,597.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,875 shares of company stock valued at $3,422,554 over the last quarter. Company insiders own 12.53% of the company's stock.

Analyst Upgrades and Downgrades

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

Rush Enterprises Price Performance

RUSHA stock traded up $0.88 during midday trading on Friday, hitting $57.46. 599,934 shares of the stock were exchanged, compared to its average volume of 310,229. The stock's 50-day moving average price is $51.94 and its 200-day moving average price is $48.22. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.14 and a beta of 0.99. Rush Enterprises, Inc. has a fifty-two week low of $36.40 and a fifty-two week high of $60.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40.

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

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises's dividend payout ratio is currently 19.10%.

Rush Enterprises 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.