Jennison Associates LLC Has $47.59 Million Holdings in Rush Enterprises, Inc. $RUSHA

Jennison Associates LLC lifted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 923,847 shares of the company’s stock after buying an additional 40,936 shares during the quarter. Jennison Associates LLC owned about 1.19% of Rush Enterprises worth $47,587,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts have issued reports on RUSHA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Stephens reiterated an “overweight” rating on shares of Rush Enterprises in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $61.00.

Insider Buying and Selling

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at $716,197.50. This trade represents a 26.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the transaction, the director owned 15,771 shares in the company, valued at $861,727.44. The trade was a 27.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by insiders.

Rush Enterprises Stock Down 0.3%

Shares of NASDAQ:RUSHA opened at $50.24 on Friday. The business’s 50 day moving average is $54.43 and its 200 day moving average is $52.94. Rush Enterprises, Inc. has a 12-month low of $47.06 and a 12-month high of $65.43. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.44 and a beta of 0.89. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Thursday, May 20th. The company reported $0.79 EPS for the quarter. The business had revenue of $1.23 billion during the quarter. Rush Enterprises had a return on equity of 12.61% and a net margin of 3.57%. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 12th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 21.65%.

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.