Rush Enterprises, Inc. $RUSHA Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its stake in Rush Enterprises by 12%, holding 879,554 shares worth approximately $46.98 million as of the latest SEC filing.
• Rush Enterprises reported a quarterly earnings increase, with earnings per share of $0.90, surpassing analysts' expectations of $0.80, along with a revenue of $1.93 billion.
• The company declared a quarterly dividend of $0.19 per share, up from $0.18, with an annualized yield of 1.3% and a payout ratio of 21.65%.

Northern Trust Corp increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879,554 shares of the company's stock after buying an additional 94,271 shares during the period. Northern Trust Corp owned about 1.11% of Rush Enterprises worth $46,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RUSHA. Marshall Wace LLP acquired a new position in Rush Enterprises in the 4th quarter valued at $398,000. Tower Research Capital LLC TRC raised its position in shares of Rush Enterprises by 121.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after buying an additional 616 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Rush Enterprises in the fourth quarter worth about $550,000. PDT Partners LLC purchased a new stake in Rush Enterprises during the 4th quarter valued at about $1,023,000. Finally, Gallagher Fiduciary Advisors LLC grew its stake in Rush Enterprises by 18.0% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,821 shares of the company's stock valued at $319,000 after acquiring an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA traded down $0.49 during trading on Friday, reaching $57.40. The company had a trading volume of 230,994 shares, compared to its average volume of 325,211. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The stock's fifty day moving average price is $54.58 and its 200 day moving average price is $53.33. Rush Enterprises, Inc. has a fifty-two week low of $46.30 and a fifty-two week high of $65.43.

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

Rush Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. Rush Enterprises's dividend payout ratio is presently 21.65%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $61.00.

Insider Activity

In other news, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction that occurred 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 owned 79,692 shares of the company's stock, valued at approximately $4,426,890.60. The trade was 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 shares were 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 directly owned 12,510 shares in the company, valued at approximately $716,197.50. The trade was a 26.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,480 shares of company stock valued at $862,104. Company 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.