Rush Enterprises, Inc. $RUSHA Shares Bought by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC increased its position in Rush Enterprises by 33.6%, owning 38,215 shares worth approximately $2 million after purchasing an additional 9,612 shares in Q1.
• Rush Enterprises recently raised its quarterly dividend to $0.19, reflecting a 1.3% dividend yield and an increase from the previous quarterly dividend of $0.18.
• The company reported earnings of $0.90 per share for the last quarter, exceeding estimates, and anticipates a consensus EPS of 3.91 for the current fiscal year.

Oliver Luxxe Assets LLC grew its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 33.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,215 shares of the company's stock after buying an additional 9,612 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Rush Enterprises were worth $2,041,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Rush Enterprises by 2.7% in the first quarter. Principal Financial Group Inc. now owns 310,294 shares of the company's stock valued at $16,573,000 after buying an additional 8,106 shares during the period. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 6,210 shares in the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Rush Enterprises by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 35,749 shares of the company's stock valued at $1,909,000 after purchasing an additional 18,831 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Rush Enterprises by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company's stock valued at $2,315,000 after acquiring an additional 2,131 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Rush Enterprises during the first quarter worth approximately $1,087,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

NASDAQ:RUSHA traded down $0.78 during mid-day trading on Thursday, reaching $57.89. 246,557 shares of the stock were exchanged, compared to its average volume of 417,092. The company has a 50 day simple moving average of $54.25 and a 200-day simple moving average of $53.36. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The stock has a market capitalization of $4.50 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.64 and a beta of 0.85. 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 (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data 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. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

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

Insider Buying and Selling at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,500 shares of the company'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 transaction of $257,625.00. Following the completion of the sale, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. This represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Mcroberts sold 6,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the sale, the director directly owned 15,771 shares of the company's stock, valued at approximately $861,727.44. This represents a 27.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

RUSHA has been the topic of several research reports. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen downgraded shares of 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, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $61.00.

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.