Citigroup Inc. Raises Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Citigroup Inc. grew its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 39.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,635 shares of the company's stock after purchasing an additional 30,399 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Rush Enterprises worth $5,634,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Rush Enterprises by 2.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 97,444 shares of the company's stock worth $5,216,000 after purchasing an additional 1,996 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Rush Enterprises in the 1st quarter worth approximately $214,000. Harbor Capital Advisors Inc. grew its holdings in shares of Rush Enterprises by 499.1% in the second quarter. Harbor Capital Advisors Inc. now owns 14,138 shares of the company's stock valued at $592,000 after acquiring an additional 11,778 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Rush Enterprises by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company's stock valued at $41,000 after acquiring an additional 287 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Rush Enterprises by 21.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,743 shares of the company's stock worth $408,000 after acquiring an additional 1,746 shares during the period. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Activity

In related news, CEO William M. Rusty Rush sold 117,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 174,154 shares of the company's stock, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven L. Keller sold 43,875 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the completion of the transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $11,167,173 in the last quarter. 12.53% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Rush Enterprises Price Performance

Shares of RUSHA stock traded up $0.06 during trading hours on Monday, hitting $62.01. 248,616 shares of the company's stock were exchanged, compared to its average volume of 360,127. Rush Enterprises, Inc. has a 12-month low of $40.03 and a 12-month high of $65.15. The company has a market capitalization of $4.90 billion, a PE ratio of 16.45, a PEG ratio of 2.34 and a beta of 0.99. The business's 50 day simple moving average is $56.12 and its 200-day simple moving average is $50.39. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.02. The company 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 firm's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.16%. Rush Enterprises's payout ratio is 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.