Allspring Global Investments Holdings LLC Grows Stock Position in Rush Enterprises, Inc. $RUSHA

Allspring Global Investments Holdings LLC boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,875 shares of the company’s stock after buying an additional 12,991 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of Rush Enterprises worth $6,066,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Rush Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock valued at $203,618,000 after buying an additional 29,375 shares in the last quarter. State Street Corp increased its holdings in shares of Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after purchasing an additional 6,994 shares in the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of Rush Enterprises by 20.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock valued at $54,613,000 after purchasing an additional 173,096 shares in the last quarter. Beck Mack & Oliver LLC lifted its stake in shares of Rush Enterprises by 1.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock valued at $53,071,000 after purchasing an additional 14,995 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after purchasing an additional 607,047 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RUSHA shares. Wolfe Research assumed coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group raised their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.67.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.68% of the company’s stock.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $76.37 on Friday. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $80.17. The firm’s 50 day moving average is $71.38 and its two-hundred day moving average is $69.05. The company has a market cap of $5.93 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Rush Enterprises’s dividend payout ratio is presently 22.96%.

About Rush Enterprises

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.