Leith Wheeler Investment Counsel Ltd. Invests $3.65 Million in Rush Enterprises, Inc. $RUSHA

Leith Wheeler Investment Counsel Ltd. purchased a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 55,291 shares of the company’s stock, valued at approximately $3,655,000.

Other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC lifted its stake in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares during the last quarter. Private Trust Co. NA grew its holdings in Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Rush Enterprises in the third quarter worth $34,000. Finally, Allworth Financial LP grew its holdings in shares of Rush Enterprises by 5,790.9% in the 3rd 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. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Down 2.6%

Shares of Rush Enterprises stock opened at $74.92 on Tuesday. The firm has a market cap of $5.82 billion, a PE ratio of 22.63, a P/E/G ratio of 1.65 and a beta of 0.89. The business’s 50 day simple moving average is $71.06 and its 200 day simple moving average is $68.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $80.17.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. On average, analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director owned 16,229 shares in the company, valued at $1,172,220.67. This represents a 33.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 12.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RUSHA. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Rush Enterprises in a report on Tuesday, May 19th. Finally, Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.67.

Rush Enterprises 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.