Summit Global Investments Purchases New Shares in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Summit Global Investments bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 31,435 shares of the company’s stock, valued at approximately $1,581,000.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Rush Enterprises by 13.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,590 shares of the company’s stock worth $130,000 after buying an additional 300 shares in the last quarter. Gladius Capital Management LP lifted its position in Rush Enterprises by 891.2% during the 3rd quarter. Gladius Capital Management LP now owns 1,120 shares of the company’s stock valued at $46,000 after purchasing an additional 1,007 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rush Enterprises by 4.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,552 shares of the company’s stock valued at $1,436,000 after purchasing an additional 1,222 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Rush Enterprises by 30.2% during the third quarter. Quantbot Technologies LP now owns 6,533 shares of the company’s stock worth $267,000 after buying an additional 1,515 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Rush Enterprises by 24.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 9,450 shares of the company’s stock valued at $386,000 after buying an additional 1,850 shares during the period. 84.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Stephens reaffirmed an “overweight” rating and set a $60.00 target price on shares of Rush Enterprises in a report on Wednesday, April 24th.

Insider Activity

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $48.28, for a total value of $543,150.00. Following the completion of the sale, the senior vice president now directly owns 2,777 shares in the company, valued at $134,073.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.53% of the stock is owned by company insiders.

Rush Enterprises Trading Up 0.8 %

NASDAQ:RUSHA traded up $0.35 during mid-day trading on Friday, hitting $43.70. The company had a trading volume of 403,279 shares, compared to its average volume of 383,024. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 1.43. Rush Enterprises, Inc. has a fifty-two week low of $33.37 and a fifty-two week high of $53.78. The firm has a market cap of $3.40 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.98 and a beta of 1.07. The business’s fifty day moving average is $49.23 and its two-hundred day moving average is $44.97.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. Rush Enterprises had a net margin of 4.16% and a return on equity of 17.16%. The business had revenue of $1.87 billion for the quarter. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, research analysts expect that Rush Enterprises, Inc. will post 2.92 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.56%. Rush Enterprises’s dividend payout ratio is 17.19%.

About Rush Enterprises

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.