New South Capital Management Inc. Sells 54,195 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

New South Capital Management Inc. reduced its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 436,549 shares of the company's stock after selling 54,195 shares during the period. Rush Enterprises makes up about 1.1% of New South Capital Management Inc.'s investment portfolio, making the stock its 29th biggest position. New South Capital Management Inc. owned approximately 0.55% of Rush Enterprises worth $23,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Rush Enterprises by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company's stock valued at $5,427,000 after buying an additional 6,210 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Rush Enterprises by 1.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 33,792 shares of the company's stock valued at $1,805,000 after acquiring an additional 607 shares during the last quarter. Nilsine Partners LLC raised its position in shares of Rush Enterprises by 10.6% in the 1st quarter. Nilsine Partners LLC now owns 52,664 shares of the company's stock valued at $2,813,000 after acquiring an additional 5,040 shares during the period. Ritholtz Wealth Management bought a new position in Rush Enterprises during the 1st quarter worth approximately $237,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Rush Enterprises by 6.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock valued at $69,552,000 after purchasing an additional 79,499 shares during the period. 84.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RUSHA shares. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Stephens lowered their price objective on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd.

Rush Enterprises Stock Down 1.7%

Shares of NASDAQ RUSHA traded down $0.96 during mid-day trading on Thursday, reaching $54.54. 321,240 shares of the company's stock were exchanged, compared to its average volume of 400,410. Rush Enterprises, Inc. has a twelve month low of $41.07 and a twelve month high of $65.43. The company has a current ratio of 1.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.57 and a beta of 0.88. The business has a fifty day simple moving average of $50.56 and a 200 day simple moving average of $54.11.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.86 billion. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises's payout ratio is presently 20.11%.

Insider Transactions at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $52.10, for a total value of $234,450.00. Following the sale, the senior vice president owned 12,510 shares of the company's stock, valued at approximately $651,771. This trade represents a 26.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason Wilder sold 748 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the sale, the chief operating officer owned 84,672 shares in the company, valued at $4,748,405.76. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,731 shares of company stock valued at $303,634. Corporate insiders own 12.28% of the company's stock.

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.