Rush Enterprises, Inc. $RUSHA Holdings Lifted by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Rush Enterprises by 308.7%, acquiring 11,423 additional shares during the first quarter, bringing its total holdings to 15,123 shares valued at $807,000.
• Rush Enterprises announced a quarterly dividend increase to $0.19, up from $0.18, reflecting a dividend yield of 1.3% and a payout ratio of 21.65%.
• Analysts have mixed ratings on Rush Enterprises, with one downgrading the stock to "hold," while the average rating remains "buy" with a price target of $61.00.

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 308.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,123 shares of the company's stock after purchasing an additional 11,423 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Rush Enterprises were worth $807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Wyoming increased its holdings in Rush Enterprises by 5.0% during the 1st quarter. State of Wyoming now owns 4,511 shares of the company's stock worth $241,000 after purchasing an additional 213 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock worth $26,000 after buying an additional 217 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after buying an additional 227 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after buying an additional 288 shares during the last quarter. Finally, Wambolt & Associates LLC lifted its holdings in Rush Enterprises by 1.5% during the 1st quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock worth $1,223,000 after buying an additional 317 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Stock Performance

Rush Enterprises stock traded down $1.93 during mid-day trading on Friday, hitting $55.66. 241,975 shares of the company's stock traded hands, compared to its average volume of 253,985. The firm has a 50 day moving average price of $55.55 and a 200 day moving average price of $53.23. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.33 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.62 and a beta of 0.88. Rush Enterprises, Inc. has a one year low of $47.06 and a one year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $1.89 billion. On average, equities analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio (DPR) is presently 21.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RUSHA shares. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $61.00.

Insider Transactions at Rush Enterprises

In related news, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the transaction, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. The trade was a 5.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the transaction, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,480 shares of company stock valued at $862,104. Corporate insiders own 12.28% of the company's stock.

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, Blue Bird, and Dennis Eagle.