Rush Enterprises, Inc. $RUSHA Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,697 shares of the company’s stock after acquiring an additional 62,117 shares during the period. Principal Financial Group Inc. owned 0.46% of Rush Enterprises worth $23,251,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Rush Enterprises by 33.6% in the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock valued at $575,000 after purchasing an additional 2,715 shares in the last quarter. AQR Capital Management LLC boosted its stake in Rush Enterprises by 8.0% during the first quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock worth $1,309,000 after buying an additional 1,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rush Enterprises by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after buying an additional 1,592 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Rush Enterprises by 18.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock valued at $20,851,000 after buying an additional 60,615 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in Rush Enterprises in the 1st quarter valued at $221,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the transaction, the director owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.68% of the company’s stock.

Rush Enterprises Stock Down 2.6%

Shares of NASDAQ:RUSHA opened at $74.92 on Tuesday. The business has a 50-day moving average price of $71.06 and a 200 day moving average price of $68.58. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.65 and a beta of 0.89. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $80.17.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on RUSHA shares. UBS Group lifted their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. 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, 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 on the stock. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Rush Enterprises currently has an average rating of “Hold” and a consensus target price of $83.67.

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.