State Street Corp Acquires 16,082 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

State Street Corp increased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,349,597 shares of the company's stock after purchasing an additional 16,082 shares during the quarter. State Street Corp owned 2.98% of Rush Enterprises worth $124,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new stake in Rush Enterprises in the second quarter valued at approximately $36,000. Blue Trust Inc. raised its holdings in shares of Rush Enterprises by 266.1% during the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company's stock worth $37,000 after acquiring an additional 511 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Rush Enterprises during the 2nd quarter worth approximately $41,000. GAMMA Investing LLC grew its holdings in shares of Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company's stock worth $42,000 after purchasing an additional 469 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Rush Enterprises in the 3rd quarter valued at approximately $53,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rush Enterprises news, CFO Steven L. Keller sold 14,625 shares of Rush Enterprises stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.50, for a total transaction of $855,562.50. Following the transaction, the chief financial officer now directly owns 83,365 shares of the company's stock, valued at approximately $4,876,852.50. The trade was a 14.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,000 shares of company stock worth $11,167,173 over the last ninety days. Corporate insiders own 12.53% of the company's stock.

Rush Enterprises Stock Down 1.6 %

Shares of RUSHA traded down $0.98 during mid-day trading on Friday, hitting $59.95. 327,348 shares of the company's stock were exchanged, compared to its average volume of 309,316. Rush Enterprises, Inc. has a twelve month low of $40.99 and a twelve month high of $65.15. The firm has a fifty day moving average of $57.99 and a two-hundred day moving average of $51.50. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.64 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.20%. Rush Enterprises's payout ratio is 19.10%.

Analyst Upgrades and Downgrades

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

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.