Fieldview Capital Management LLC Reduces Stock Position in Rush Enterprises, Inc. $RUSHA

Fieldview Capital Management LLC reduced its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 66.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,686 shares of the company’s stock after selling 14,898 shares during the quarter. Fieldview Capital Management LLC’s holdings in Rush Enterprises were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in Rush Enterprises by 0.4% in the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after acquiring an additional 208 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Rush Enterprises by 8.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock worth $159,000 after acquiring an additional 219 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Rush Enterprises by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock worth $329,000 after purchasing an additional 237 shares during the last quarter. Corbyn Investment Management Inc. MD increased its position in shares of Rush Enterprises by 0.9% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 28,058 shares of the company’s stock worth $1,445,000 after purchasing an additional 257 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Rush Enterprises by 0.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company’s stock valued at $4,489,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. UBS Group restated a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Stephens reiterated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.50.

Insider Buying and Selling

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total value of $566,480.00. Following the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the transaction, the senior vice president directly owned 12,590 shares of the company’s stock, valued at approximately $904,717.40. This trade represents a 26.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,750 shares of company stock worth $1,698,950 in the last three months. 12.28% of the stock is owned by insiders.

Rush Enterprises Price Performance

RUSHA opened at $64.59 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $65.85 and its 200 day moving average price is $57.84. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $75.99. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 0.80 and a beta of 0.91.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%. As a group, sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Rush Enterprises’s payout ratio is currently 23.24%.

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.