Quantinno Capital Management LP Grows Stock Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• Institutional ownership increased: Quantinno Capital Management nearly doubled its Rush Enterprises stake to 26,316 shares, while several other major investors also added positions. Hedge funds and institutional investors now own 84.43% of the stock.
• Insiders sold shares: CEO William M. “Rusty” Rush sold 107,361 shares for approximately $5.8 million, while director Michael McRoberts sold 9,750 shares. Insiders sold roughly $9.1 million of stock over the past quarter.
• Business and outlook remain positive: Rush Enterprises beat quarterly EPS estimates, reporting $0.61 versus the expected $0.57, and analysts maintain a “Moderate Buy” consensus with an average price target of $58. The company also announced a 3-for-2 stock split and a quarterly dividend of $0.14 per share.

Quantinno Capital Management LP lifted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 99.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,316 shares of the company's stock after purchasing an additional 13,127 shares during the period. Quantinno Capital Management LP's holdings in Rush Enterprises were worth $1,740,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RUSHA. Jennison Associates LLC lifted its position in Rush Enterprises by 166.4% during the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company's stock worth $74,139,000 after buying an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Rush Enterprises by 174.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company's stock valued at $51,566,000 after buying an additional 607,047 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Rush Enterprises in the 4th quarter worth $25,811,000. Millennium Management LLC increased its stake in shares of Rush Enterprises by 280.4% in the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company's stock worth $28,924,000 after acquiring an additional 398,721 shares during the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of Rush Enterprises by 85.0% during the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company's stock worth $39,336,000 after acquiring an additional 335,019 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 9,750 shares of Rush Enterprises stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.29, for a total value of $529,360.00. Following the completion of the transaction, the director directly owned 24,343 shares of the company's stock, valued at $1,321,662.61. The trade was a 28.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William M. Rusty Rush sold 107,361 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.03, for a total transaction of $5,801,072.70. Following the sale, the chief executive officer owned 261,231 shares in the company, valued at $14,115,181.70. This trade represents a 29.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 168,375 shares of company stock valued at $9,092,352. Insiders own 12.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RUSHA. Wolfe Research assumed coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an "outperform" rating and a $58.67 price objective for the company. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, June 14th. Zacks Research upgraded shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Finally, UBS Group raised their price target on shares of Rush Enterprises from $48.67 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $81.59 on Wednesday. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $83.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The company has a 50 day moving average price of $50.01 and a 200 day moving average price of $47.48. The stock has a market capitalization of $6.34 billion, a P/E ratio of 24.58, a PEG ratio of 1.77 and a beta of 0.87.

Shares of Rush Enterprises are set to split before the market opens on Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.89 billion. Equities research analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 0.7%. Rush Enterprises's dividend payout ratio is presently 22.89%.

Rush Enterprises Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.

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