Allspring Global Investments Holdings LLC Purchases 6,210 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Allspring Global Investments Holdings LLC increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,893 shares of the company’s stock after acquiring an additional 6,210 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Rush Enterprises worth $5,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RUSHA. Bank of New York Mellon Corp raised its stake in Rush Enterprises by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 624,103 shares of the company’s stock valued at $34,195,000 after purchasing an additional 3,386 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock valued at $46,000 after buying an additional 703 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Rush Enterprises by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,995 shares of the company’s stock valued at $40,709,000 after buying an additional 26,254 shares during the period. Keybank National Association OH bought a new stake in shares of Rush Enterprises in the fourth quarter valued at about $294,000. Finally, Victory Capital Management Inc. grew its position in Rush Enterprises by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 128,460 shares of the company’s stock worth $7,038,000 after buying an additional 5,581 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Stephens cut their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd.

Rush Enterprises Stock Down 1.7%

Shares of NASDAQ RUSHA opened at $54.54 on Friday. Rush Enterprises, Inc. has a 52-week low of $41.10 and a 52-week high of $65.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. The stock has a market cap of $4.24 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.54 and a beta of 0.88. The firm has a 50 day moving average price of $50.62 and a 200 day moving average price of $54.07.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.86 billion. Analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Monday, May 12th. Rush Enterprises’s payout ratio is presently 20.11%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer owned 84,672 shares of the company’s stock, valued at $4,748,405.76. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares of the company’s stock, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,731 shares of company stock valued at $303,634. Corporate insiders own 12.28% of the company’s stock.

Rush Enterprises Company 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.