American Century Companies Inc. Purchases 106,991 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• American Century Companies Inc. increased its stake in Rush Enterprises by 423.4% in Q1, holding 132,259 shares valued at approximately $7.06 million.
• Rush Enterprises recently announced a quarterly dividend increase to $0.19 per share, representing a yield of 1.3% and a payout ratio of 21.65%.
• Analysts have mixed views on Rush Enterprises, with an average rating of "Buy" and a target price of $61.00, while recent reports have seen a downgrade from "buy" to "hold."

American Century Companies Inc. increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 423.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,259 shares of the company's stock after purchasing an additional 106,991 shares during the period. American Century Companies Inc. owned approximately 0.17% of Rush Enterprises worth $7,064,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after purchasing an additional 217 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after purchasing an additional 288 shares in the last quarter. Wambolt & Associates LLC lifted its holdings in shares of Rush Enterprises by 1.5% during the 1st quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock valued at $1,223,000 after purchasing an additional 317 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Rush Enterprises by 10.8% during the 1st quarter. HighTower Advisors LLC now owns 4,741 shares of the company's stock valued at $253,000 after purchasing an additional 463 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in shares of Rush Enterprises by 0.4% during the 1st quarter. Denali Advisors LLC now owns 119,929 shares of the company's stock valued at $6,405,000 after purchasing an additional 464 shares in the last quarter. Institutional investors own 84.43% of the company's stock.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the transaction, the chief operating officer owned 79,692 shares in the company, valued at approximately $4,426,890.60. This represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock worth $862,104 over the last 90 days. Insiders own 12.28% of the company's stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded down $0.12 during mid-day trading on Tuesday, reaching $57.28. The company had a trading volume of 264,332 shares, compared to its average volume of 278,407. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. Rush Enterprises, Inc. has a one year low of $46.30 and a one year high of $65.43. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.62 and a beta of 0.88. The business's 50-day simple moving average is $54.84 and its 200 day simple moving average is $53.25.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. On average, research analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be given a $0.19 dividend. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, August 12th. Rush Enterprises's dividend payout ratio (DPR) is presently 21.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RUSHA. Stephens reiterated an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Rush Enterprises presently has an average rating of "Buy" and an average target price of $61.00.

Rush Enterprises 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.