Edgestream Partners L.P. Invests $1.25 Million in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Edgestream Partners L.P. bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the second quarter, HoldingsChannel reports. The fund bought 20,560 shares of the company’s stock, valued at approximately $1,249,000.

A number of other hedge funds have also modified their holdings of RUSHA. Bank of Montreal Can purchased a new position in Rush Enterprises in the 2nd quarter valued at $47,850,000. Mackenzie Financial Corp grew its position in Rush Enterprises by 9.4% in the 2nd quarter. Mackenzie Financial Corp now owns 6,709 shares of the company’s stock valued at $410,000 after buying an additional 577 shares during the last quarter. Acadian Asset Management LLC grew its position in Rush Enterprises by 6.9% in the 2nd quarter. Acadian Asset Management LLC now owns 342,459 shares of the company’s stock valued at $20,794,000 after buying an additional 22,017 shares during the last quarter. Beck Mack & Oliver LLC purchased a new position in Rush Enterprises in the 2nd quarter valued at $22,089,000. Finally, Natixis Advisors L.P. grew its position in Rush Enterprises by 0.5% in the 1st quarter. Natixis Advisors L.P. now owns 77,922 shares of the company’s stock valued at $4,254,000 after buying an additional 364 shares during the last quarter. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stephens raised their target price on Rush Enterprises from $48.00 to $52.00 in a report on Thursday, July 27th. StockNews.com assumed coverage on Rush Enterprises in a report on Thursday, October 5th. They issued a “buy” rating for the company.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $39.12 on Tuesday. Rush Enterprises, Inc. has a one year low of $32.65 and a one year high of $46.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.28 and a current ratio of 1.25. The business has a fifty day moving average of $39.16 and a two-hundred day moving average of $39.79. The company has a market cap of $3.11 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.64 and a beta of 0.98.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 24th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.96 billion. Rush Enterprises had a return on equity of 19.86% and a net margin of 4.72%. Rush Enterprises’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. As a group, analysts predict that Rush Enterprises, Inc. will post 3.99 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 Tuesday, December 12th. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 8th. Rush Enterprises’s dividend payout ratio (DPR) is presently 15.62%.

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, and Blue Bird.