JPMorgan Chase & Co. Decreases Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

JPMorgan Chase & Co. cut its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,950,511 shares of the company's stock after selling 30,684 shares during the quarter. JPMorgan Chase & Co. owned about 2.47% of Rush Enterprises worth $103,045,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dean Investment Associates LLC bought a new stake in shares of Rush Enterprises in the 3rd quarter worth approximately $1,986,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Rush Enterprises by 13.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company's stock valued at $62,677,000 after acquiring an additional 138,488 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in Rush Enterprises in the 2nd quarter worth approximately $478,000. Intech Investment Management LLC bought a new stake in shares of Rush Enterprises in the 3rd quarter worth $1,523,000. Finally, Tensile Capital Management LP purchased a new position in shares of Rush Enterprises in the third quarter worth $1,815,000. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Price Performance

Shares of RUSHA traded up $0.03 during midday trading on Thursday, hitting $54.82. 270,552 shares of the company traded hands, compared to its average volume of 359,239. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.14 and a beta of 1.00. The firm has a 50 day moving average of $59.07 and a 200-day moving average of $52.62. 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, Inc. has a 52 week low of $40.99 and a 52 week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced 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. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. Rush Enterprises's quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that Rush Enterprises, Inc. will post 3.64 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. Rush Enterprises's dividend payout ratio is presently 19.10%.

Analysts Set New Price Targets

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

Insider Activity at Rush Enterprises

In related news, CFO Steven L. Keller sold 14,625 shares of Rush Enterprises stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the sale, the chief financial officer now owns 83,365 shares in the company, valued at $4,876,852.50. This trade represents a 14.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,000 shares of company stock worth $11,167,173. Insiders own 12.53% of the company's stock.

Rush Enterprises Company 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.