Rush Enterprises, Inc. $RUSHA Shares Purchased 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 position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 308.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,123 shares of the company's stock after buying an additional 11,423 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Rush Enterprises were worth $807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Rush Enterprises by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 310,294 shares of the company's stock worth $16,573,000 after purchasing an additional 8,106 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Rush Enterprises by 6.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company's stock worth $5,427,000 after purchasing an additional 6,210 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Rush Enterprises by 111.3% during the 1st quarter. Bridges Investment Management Inc. now owns 35,749 shares of the company's stock worth $1,909,000 after purchasing an additional 18,831 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Rush Enterprises by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company's stock worth $2,315,000 after purchasing an additional 2,131 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Rush Enterprises during the 1st quarter worth $1,087,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rush Enterprises

In related news, Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the transaction, the director owned 15,771 shares of the company's stock, valued at approximately $861,727.44. The trade was a 27.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares of the company's stock, valued at $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,480 shares of company stock valued at $862,104 in the last 90 days. 12.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RUSHA has been the topic of several research analyst reports. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $61.00.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA traded down $1.93 during midday trading on Friday, hitting $55.66. 241,975 shares of the stock were exchanged, compared to its average volume of 252,862. The stock has a market cap of $4.33 billion, a P/E ratio of 15.86, a PEG ratio of 1.57 and a beta of 0.88. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a twelve month low of $47.06 and a twelve month high of $65.43. The company has a 50 day moving average price of $55.55 and a 200-day moving average price of $53.16.

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

Rush Enterprises Increases Dividend

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

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.