Legato Capital Management LLC Reduces Stock Position in Rush Enterprises, Inc. $RUSHA

Key Points

• Legato Capital Management sharply cut its Rush Enterprises stake by 74.4% in the fourth quarter, leaving it with 7,141 shares worth about $385,000.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, topping estimates by $0.05, though revenue of $1.68 billion came in slightly below expectations.
• The company declared a quarterly dividend of $0.19 per share, and analysts currently rate the stock a consensus Hold with an average price target of $83.67.

Legato Capital Management LLC lowered its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 74.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,141 shares of the company's stock after selling 20,756 shares during the quarter. Legato Capital Management LLC's holdings in Rush Enterprises were worth $385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in shares of Rush Enterprises by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company's stock worth $12,776,000 after acquiring an additional 30,293 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Rush Enterprises by 38.6% during the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock worth $62,743,000 after acquiring an additional 326,917 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Rush Enterprises by 21.3% during the 3rd quarter. Natixis Advisors LLC now owns 225,381 shares of the company's stock worth $12,051,000 after acquiring an additional 39,604 shares during the last quarter. Elo Mutual Pension Insurance Co purchased a new position in shares of Rush Enterprises during the 3rd quarter worth $978,000. Finally, SG Americas Securities LLC boosted its stake in shares of Rush Enterprises by 63.9% during the 4th quarter. SG Americas Securities LLC now owns 27,040 shares of the company's stock worth $1,459,000 after acquiring an additional 10,545 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Mcroberts sold 8,000 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond Joseph Chess sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the completion of the sale, the director owned 41,170 shares in the company, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 12.68% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $72.12 on Thursday. 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 company has a market cap of $5.60 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.49 and a beta of 0.93. The firm's fifty day moving average is $69.62 and its two-hundred day moving average is $63.70. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. As a group, analysts anticipate that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, May 12th. Rush Enterprises's payout ratio is currently 22.96%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an "outperform" rating and a $88.00 price target on the stock. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Stephens restated an "overweight" rating and set a $85.00 target price on shares of Rush Enterprises in a research note on Tuesday, May 19th. UBS Group lifted their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Zacks Research cut shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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