T. Rowe Price Investment Management Inc. Reduces Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

T. Rowe Price Investment Management Inc. cut its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,177,243 shares of the company's stock after selling 162,191 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.75% of Rush Enterprises worth $119,292,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RUSHA. Tower Research Capital LLC TRC grew its position in shares of Rush Enterprises by 121.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after buying an additional 616 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Rush Enterprises by 4.4% in the 4th quarter. MetLife Investment Management LLC now owns 36,689 shares of the company's stock worth $2,010,000 after buying an additional 1,560 shares in the last quarter. Beck Mack & Oliver LLC grew its holdings in shares of Rush Enterprises by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company's stock worth $58,821,000 after acquiring an additional 5,823 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Rush Enterprises during the fourth quarter valued at approximately $412,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Rush Enterprises by 4.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 94,887 shares of the company's stock valued at $5,198,000 after buying an additional 3,833 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded down $0.88 during midday trading on Monday, reaching $50.60. 716,326 shares of the company traded hands, compared to its average volume of 367,102. Rush Enterprises, Inc. has a 12 month low of $40.99 and a 12 month high of $65.43. The firm has a market cap of $4.01 billion, a PE ratio of 13.57, a PEG ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The stock's 50-day simple moving average is $53.96 and its 200-day simple moving average is $56.83.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd were given 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 yield of 1.42%. Rush Enterprises's dividend payout ratio (DPR) is presently 19.30%.

Insider Activity

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $56.43, for a total value of $634,837.50. Following the completion of the transaction, the senior vice president now owns 3,117 shares in the company, valued at $175,892.31. This represents a 78.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Mcroberts sold 4,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total value of $234,080.00. Following the transaction, the director now directly owns 15,771 shares in the company, valued at $922,918.92. This represents a 20.23 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

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.