Harbor Capital Advisors Inc. Acquires 12,962 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Harbor Capital Advisors Inc. increased its stake in Rush Enterprises by 31.3%, bringing its ownership to 54,340 shares valued at approximately $2.8 million.
• Rush Enterprises reported earnings of $0.90 per share for the latest quarter, exceeding analysts' expectations of $0.80, with revenues amounting to $1.93 billion.
• The company declared a quarterly dividend of $0.19, marking an increase from the previous dividend and reflecting a yield of 1.4%.

Harbor Capital Advisors Inc. boosted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 31.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,340 shares of the company's stock after purchasing an additional 12,962 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.07% of Rush Enterprises worth $2,799,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its stake in Rush Enterprises by 73.3% during the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock valued at $47,156,000 after purchasing an additional 373,531 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rush Enterprises in the 4th quarter worth approximately $10,628,000. Nuveen LLC bought a new stake in shares of Rush Enterprises in the 1st quarter worth approximately $9,667,000. Millennium Management LLC raised its holdings in shares of Rush Enterprises by 116.5% in the 4th 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 in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Rush Enterprises by 605.6% in the 1st quarter. Jane Street Group LLC now owns 153,189 shares of the company's stock worth $8,182,000 after purchasing an additional 131,480 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded down $0.11 during mid-day trading on Friday, reaching $57.02. 1,532,461 shares of the stock were exchanged, compared to its average volume of 253,453. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $55.83 and a 200 day simple moving average of $53.18. Rush Enterprises, Inc. has a fifty-two week low of $47.06 and a fifty-two week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS 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 analyst estimates of $1.89 billion. On average, sell-side analysts predict 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 paid a $0.19 dividend. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. Rush Enterprises's payout ratio is 21.65%.

Insider Activity

In other news, COO Jason Wilder sold 4,980 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total value 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. This trade represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total transaction of $327,840.00. Following the transaction, the director directly owned 15,771 shares in the company, valued at $861,727.44. The trade was a 27.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,480 shares of company stock valued at $862,104. 12.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of a number of recent analyst reports. Stephens restated an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen lowered 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, According to MarketBeat.com, the company currently has a consensus 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.