Raymond James Financial Inc. Invests $9.82 Million in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Raymond James Financial Inc. purchased a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 179,272 shares of the company's stock, valued at approximately $9,822,000. Raymond James Financial Inc. owned about 0.23% of Rush Enterprises as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RUSHA. Smartleaf Asset Management LLC increased its holdings in shares of Rush Enterprises by 475.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $46,000 after acquiring an additional 703 shares during the last quarter. GAMMA Investing LLC increased its stake in Rush Enterprises by 24.4% in the fourth quarter. GAMMA Investing LLC now owns 979 shares of the company's stock valued at $54,000 after purchasing an additional 192 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Rush Enterprises during the third quarter worth approximately $64,000. Quarry LP lifted its position in shares of Rush Enterprises by 86.0% during the 3rd quarter. Quarry LP now owns 1,605 shares of the company's stock worth $85,000 after buying an additional 742 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rush Enterprises in the 3rd quarter valued at $137,000. Institutional investors and hedge funds own 84.43% of the company's stock.

Rush Enterprises Stock Performance

NASDAQ:RUSHA traded down $0.08 during mid-day trading on Tuesday, reaching $55.68. 303,796 shares of the stock were exchanged, compared to its average volume of 321,972. The stock has a market capitalization of $4.41 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.04 and a beta of 1.06. Rush Enterprises, Inc. has a 1 year low of $40.99 and a 1 year high of $65.43. The company has a 50 day simple moving average of $58.02 and a 200-day simple moving average of $56.60. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23.

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Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.09. The business had revenue of $2.01 billion for 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%. Analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. Rush Enterprises's dividend payout ratio (DPR) is 19.30%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Jody Pollard sold 11,250 shares of the firm'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 completion of the sale, the senior vice president now owns 3,117 shares in the company, valued at approximately $175,892.31. This trade represents a 78.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction dated 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 directly owns 15,771 shares in the company, valued at approximately $922,918.92. The trade was a 20.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.53% of the company's stock.

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.