KLP Kapitalforvaltning AS Acquires 1,300 Shares of Rush Enterprises, Inc. $RUSHA

KLP Kapitalforvaltning AS boosted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,800 shares of the company’s stock after buying an additional 1,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Rush Enterprises were worth $711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RUSHA. Caitong International Asset Management Co. Ltd increased its stake in shares of Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock valued at $26,000 after purchasing an additional 217 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Rush Enterprises in the 1st quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its stake in shares of Rush Enterprises by 26.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock worth $58,000 after buying an additional 227 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Rush Enterprises in the first quarter worth $207,000. Institutional investors own 84.43% of the company’s stock.

Insiders Place Their Bets

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the sale, the director directly owned 15,771 shares of the company’s stock, valued at approximately $861,727.44. This represents a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jason Wilder sold 4,980 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,480 shares of company stock valued at $862,104. 12.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RUSHA shares. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Finally, Stephens restated an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Rush Enterprises presently has an average rating of “Buy” and an average target price of $61.00.

Rush Enterprises Trading Down 0.5%

Shares of RUSHA stock opened at $51.11 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The stock’s 50 day simple moving average is $55.61 and its two-hundred day simple moving average is $53.03. The company has a market cap of $3.98 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. Rush Enterprises, Inc. has a 1 year low of $47.06 and a 1 year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Thursday, May 20th. The company reported $0.79 EPS for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.23 billion for the quarter. Research analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, August 12th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. Rush Enterprises’s dividend payout ratio (DPR) is presently 21.65%.

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.