Livforsakringsbolaget Skandia Omsesidigt Purchases 19,850 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Rush Enterprises by 68.3%, owning 48,900 shares worth approximately $2.65 million as per its latest SEC filing.
• Rush Enterprises has recently raised its quarterly dividend to $0.19, reflecting a 1.4% yield and a payout ratio of 21.65%.
• The company's latest earnings report indicated a net margin of 3.73% and revenue of $1.93 billion, surpassing analyst expectations.

Livforsakringsbolaget Skandia Omsesidigt raised its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 68.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 48,900 shares of the company's stock after purchasing an additional 19,850 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.06% of Rush Enterprises worth $2,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised 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 worth $26,000 after acquiring an additional 217 shares during the period. AlphaQuest LLC acquired a new position in Rush Enterprises in the 1st quarter valued at about $30,000. Smartleaf Asset Management LLC grew its position in Rush Enterprises by 26.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock valued at $58,000 after acquiring an additional 227 shares in the last quarter. GAMMA Investing LLC grew its position in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Rush Enterprises in the 1st quarter valued at about $207,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Performance

NASDAQ RUSHA traded down $0.11 during trading hours on Friday, hitting $57.02. The company had a trading volume of 1,532,461 shares, compared to its average volume of 253,453. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a fifty-two week low of $47.06 and a fifty-two week high of $65.43. The business has a fifty day simple moving average of $55.83 and a 200-day simple moving average of $53.18. The firm has a market cap of $4.44 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

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. The company had revenue of $1.93 billion for 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%. Equities analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, August 12th were given 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 was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Rush Enterprises's dividend payout ratio is currently 21.65%.

Insider Activity

In related news, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 79,692 shares in the company, valued at approximately $4,426,890.60. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president owned 12,510 shares of the company's stock, valued at approximately $716,197.50. This represents a 26.46% 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 valued at $862,104 in the last 90 days. 12.28% of the stock is owned by company insiders.

Analyst Ratings Changes

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

About Rush Enterprises

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.