Cornerstone Investment Partners LLC Makes New Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Cornerstone Investment Partners LLC bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 4th quarter, Holdings Channel reports. The firm bought 4,201 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC acquired a new position in Rush Enterprises during the fourth quarter worth about $373,000. Louisiana State Employees Retirement System purchased a new stake in shares of Rush Enterprises in the fourth quarter valued at about $1,549,000. Mutual of America Capital Management LLC purchased a new stake in shares of Rush Enterprises in the fourth quarter valued at about $542,000. International Assets Investment Management LLC lifted its holdings in shares of Rush Enterprises by 4,929.9% in the fourth quarter. International Assets Investment Management LLC now owns 18,007 shares of the company’s stock valued at $906,000 after purchasing an additional 17,649 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Rush Enterprises by 13.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,590 shares of the company’s stock valued at $130,000 after purchasing an additional 300 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $48.71 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 1.35. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.11 and a beta of 1.02. The company’s 50 day simple moving average is $49.35 and its 200 day simple moving average is $44.62. Rush Enterprises, Inc. has a 1 year low of $33.37 and a 1 year high of $53.78.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.88 billion. Rush Enterprises had a net margin of 4.38% and a return on equity of 18.44%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 2.88 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Tuesday, February 27th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, February 26th. Rush Enterprises’s payout ratio is 16.41%.

Analysts Set New Price Targets

Several analysts have issued reports on RUSHA shares. Stephens reaffirmed an “overweight” rating and issued a $58.00 price target on shares of Rush Enterprises in a report on Wednesday, February 14th. StockNews.com downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, January 1st.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $48.28, for a total transaction of $543,150.00. Following the transaction, the senior vice president now owns 2,777 shares of the company’s stock, valued at $134,073.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

About Rush Enterprises

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.