Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 9.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,982 shares of the company’s stock after buying an additional 2,413 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Rush Enterprises were worth $1,533,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RUSHA. State Street Corp raised its stake in shares of Rush Enterprises by 0.7% in the third quarter. State Street Corp now owns 2,349,597 shares of the company’s stock valued at $124,129,000 after buying an additional 16,082 shares during the period. Geode Capital Management LLC raised its stake in Rush Enterprises by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock valued at $85,390,000 after acquiring an additional 16,803 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Rush Enterprises by 3.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,222,719 shares of the company’s stock valued at $66,993,000 after purchasing an additional 36,326 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in Rush Enterprises by 2.0% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 789,190 shares of the company’s stock worth $43,240,000 after purchasing an additional 15,200 shares during the period. Finally, Charles Schwab Investment Management Inc. increased 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 worth $40,709,000 after purchasing an additional 26,254 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Rush Enterprises in a report on Wednesday, February 19th.

Insider Activity

In other news, Director Michael Mcroberts sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $58.52, for a total transaction of $234,080.00. Following the completion of the transaction, the director now owns 15,771 shares of the company’s stock, valued at approximately $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total transaction of $634,837.50. Following the completion of the sale, the senior vice president now directly owns 3,117 shares in the company, valued at $175,892.31. This represents a 78.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.53% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $55.44 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.43. The stock has a market cap of $4.39 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The stock has a fifty day moving average of $57.42 and a 200-day moving average of $56.86.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, March 3rd. Rush Enterprises’s payout ratio is 19.30%.

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.