Public Sector Pension Investment Board Boosts Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Rush Enterprises, Inc. by 27.3%, owning a total of 197,657 shares valued at approximately $10.56 million.
• Rush Enterprises reported a quarterly earnings per share (EPS) of $0.90, beating analysts' expectations of $0.80, with a revenue of $1.93 billion.
• The company announced an increase in its quarterly dividend to $0.19 per share, up from $0.18, indicating positive financial growth and a yield of 1.3%.

Public Sector Pension Investment Board raised its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,657 shares of the company's stock after acquiring an additional 42,336 shares during the period. Public Sector Pension Investment Board owned approximately 0.25% of Rush Enterprises worth $10,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RUSHA. Jennison Associates LLC increased its stake in Rush Enterprises by 73.3% in the first quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after purchasing an additional 373,531 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Rush Enterprises in the fourth quarter worth $10,628,000. Nuveen LLC purchased a new stake in Rush Enterprises in the first quarter worth $9,667,000. Millennium Management LLC increased its stake in Rush Enterprises by 116.5% in the fourth quarter. Millennium Management LLC now owns 299,038 shares of the company's stock worth $16,384,000 after purchasing an additional 160,922 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Rush Enterprises by 208.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 130,233 shares of the company's stock worth $7,135,000 after buying an additional 87,952 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Price Performance

RUSHA traded down $0.98 during trading on Friday, hitting $56.37. The company's stock had a trading volume of 264,431 shares, compared to its average volume of 407,769. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a twelve month low of $46.30 and a twelve month high of $65.43. The business's fifty day simple moving average is $53.14 and its 200 day simple moving average is $53.53. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.62 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The firm 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%. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS 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 paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, August 12th. Rush Enterprises's dividend payout ratio is presently 21.65%.

Analyst Ratings Changes

RUSHA has been the topic of a number of recent research reports. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

Insiders Place Their Bets

In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction 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 filing with the SEC, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of the business's 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 transaction, the director directly owned 15,771 shares in the company, valued at $861,727.44. This trade represents a 27.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,728 shares of company stock worth $646,427 in the last three months. 12.28% of the stock is currently owned by corporate insiders.

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.