Jennison Associates LLC Cuts Position in Rush Enterprises, Inc. $RUSHA

Jennison Associates LLC lessened its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 31.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,939 shares of the company’s stock after selling 189,478 shares during the quarter. Jennison Associates LLC’s holdings in Rush Enterprises were worth $22,705,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RUSHA. Millennium Management LLC grew its holdings in Rush Enterprises by 280.4% during the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after buying an additional 398,721 shares in the last quarter. American Century Companies Inc. grew its holdings in Rush Enterprises by 38.6% during the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after buying an additional 326,917 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Rush Enterprises by 91.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after buying an additional 301,119 shares in the last quarter. Woodline Partners LP purchased a new position in Rush Enterprises during the 3rd quarter valued at approximately $10,906,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Rush Enterprises by 14.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock valued at $63,054,000 after buying an additional 148,363 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total value of $809,100.00. Following the transaction, the senior vice president owned 3,385 shares of the company’s stock, valued at approximately $243,449.20. The trade was a 76.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,750 shares of company stock worth $2,927,290 in the last 90 days. 12.68% of the stock is owned by insiders.

Rush Enterprises Price Performance

RUSHA stock opened at $72.99 on Friday. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $76.99. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $69.00 and a 200 day moving average price of $61.09. The stock has a market cap of $5.62 billion, a PE ratio of 22.05, a P/E/G ratio of 1.57 and a beta of 0.93.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.73 billion. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises’s payout ratio is presently 22.96%.

Wall Street Analyst Weigh In

RUSHA has been the subject of several research analyst reports. UBS Group raised their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and issued a $85.00 target price (up from $80.00) on shares of Rush Enterprises in a report on Thursday. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research cut Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rush Enterprises currently has a consensus rating of “Hold” and a consensus 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.