Dimensional Fund Advisors LP Sells 250,101 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Dimensional Fund Advisors cut its stake in Rush Enterprises by 6.6% in the first quarter, selling 250,101 shares but still holding 3.52 million shares worth about $233 million.
• Rush Enterprises reported solid quarterly results, with earnings per share of $0.77, ahead of analyst expectations of $0.72, though revenue came in slightly below estimates.
• Insider and analyst activity was mixed: director Michael McRoberts sold 8,000 shares, while Wall Street’s consensus rating remains “Hold” with an average target price of $83.67.

Dimensional Fund Advisors LP trimmed its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,524,723 shares of the company's stock after selling 250,101 shares during the period. Dimensional Fund Advisors LP owned about 4.58% of Rush Enterprises worth $233,015,000 at the end of the most recent reporting period.

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

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business's stock in a transaction 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 transaction, the director directly owned 16,229 shares of the company's stock, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.68% of the company's stock.

Rush Enterprises Trading Up 0.0%

NASDAQ RUSHA opened at $76.37 on Friday. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The stock has a 50 day simple moving average of $71.38 and a two-hundred day simple moving average of $69.05. The stock has a market cap of $5.93 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. On average, analysts forecast that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Dividend Announcement

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

Wall Street Analysts Forecast Growth

RUSHA has been the subject of a number of analyst reports. Stephens reissued an "overweight" rating and set a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. 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. UBS Group raised their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.

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