Rhumbline Advisers Sells 7,050 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Rhumbline Advisers sold 7,050 shares of Rush Enterprises, lowering its holdings by 3.8% to approximately 177,135 shares.
• Rush Enterprises recently announced a quarterly dividend increase from $0.18 to $0.19, with an annual yield of 1.3%.
• Analysts have mixed views on Rush Enterprises, with Wall Street Zen downgrading the stock from a "buy" to a "hold" rating, while others maintain a "buy" stance with an average price target of $61.00.

Rhumbline Advisers lessened its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 177,135 shares of the company's stock after selling 7,050 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Rush Enterprises worth $9,461,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RUSHA. Caitong International Asset Management Co. Ltd boosted its stake in Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock worth $26,000 after acquiring an additional 217 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Rush Enterprises in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Rush Enterprises by 26.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock valued at $58,000 after purchasing an additional 227 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after purchasing an additional 288 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Rush Enterprises in the first quarter valued at approximately $207,000. Institutional investors own 84.43% of the company's stock.

Insider Activity

In other news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction 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 directly owned 12,510 shares of the company's stock, valued at $716,197.50. This trade represents a 26.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of the firm's stock in a transaction on Monday, August 4th. The shares were 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. Insiders sold a total of 15,480 shares of company stock valued at $862,104 in the last ninety days. 12.28% of the stock is currently owned by insiders.

Rush Enterprises Stock Down 0.3%

Shares of NASDAQ RUSHA traded down $0.19 during trading on Tuesday, hitting $55.67. The stock had a trading volume of 94,328 shares, compared to its average volume of 404,685. Rush Enterprises, Inc. has a 12 month low of $47.06 and a 12 month high of $65.43. 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 company has a market capitalization of $4.33 billion, a PE ratio of 15.86, a PEG ratio of 1.57 and a beta of 0.88. The firm has a fifty day moving average of $55.60 and a two-hundred day moving average of $53.15.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its earnings results 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. As a group, equities research analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's payout ratio is 21.65%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RUSHA shares. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $61.00.

Rush Enterprises Company 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.