GW&K Investment Management LLC Has $18.93 Million Stake in Rush Enterprises, Inc. $RUSHA

GW&K Investment Management LLC lifted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 350,952 shares of the company’s stock after purchasing an additional 24,781 shares during the period. GW&K Investment Management LLC’s holdings in Rush Enterprises were worth $18,930,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RUSHA. CIBC Private Wealth Group LLC lifted its position in shares of Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA lifted its holdings in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the third quarter valued at approximately $34,000. Allworth Financial LP lifted its holdings in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the period. Finally, First Horizon Corp acquired a new position in Rush Enterprises in the fourth quarter valued at approximately $37,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.68% of the company’s stock.

Rush Enterprises Stock Down 1.1%

Shares of NASDAQ:RUSHA opened at $67.77 on Thursday. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $76.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The company has a market capitalization of $5.27 billion, a PE ratio of 20.47, a PEG ratio of 1.45 and a beta of 0.88. The company has a 50 day moving average price of $70.20 and a two-hundred day moving average price of $65.06.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. Analysts forecast that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio is presently 22.96%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RUSHA shares. Wolfe Research started coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, UBS Group increased their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.67.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.