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 shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 large investors also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of Rush Enterprises by 1.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,218,650 shares of the company's stock valued at $118,499,000 after purchasing an additional 41,407 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Rush Enterprises by 6.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock worth $69,552,000 after buying an additional 79,499 shares during the last quarter. Jennison Associates LLC raised its holdings in Rush Enterprises by 73.3% during the first quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock valued at $47,156,000 after buying an additional 373,531 shares in the last quarter. Northern Trust Corp lifted its position in shares of Rush Enterprises by 12.0% in the first quarter. Northern Trust Corp now owns 879,554 shares of the company's stock worth $46,977,000 after buying an additional 94,271 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in shares of Rush Enterprises by 2.3% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 807,290 shares of the company's stock worth $43,117,000 after acquiring an additional 18,100 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $56.71 on Thursday. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.62 and a beta of 0.88. Rush Enterprises, Inc. has a one year low of $46.30 and a one year high of $65.43. The business has a fifty day simple moving average of $55.46 and a 200 day simple moving average of $53.22. 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 (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.89 billion. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current 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 issued a dividend of $0.19 per share. 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. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Rush Enterprises's dividend payout ratio (DPR) is presently 21.65%.

Insider Activity

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 value of $257,625.00. Following the sale, the senior vice president directly owned 12,510 shares in the company, valued at approximately $716,197.50. This represents a 26.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Mcroberts sold 6,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 15,771 shares of the company's stock, valued at approximately $861,727.44. The trade was 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. Company insiders own 12.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered 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 research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.

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