Rush Enterprises, Inc. $RUSHA Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors trimmed its Q3 stake by 0.7% and still holds 3,745,449 shares (about 4.81%) of Rush Enterprises, valued at roughly $200.27 million, amid overall institutional ownership of ~84.4%.
• Insider selling accelerated recently: executives sold 23,750 shares (~$1.70 million) in the last three months, including SVP Jody Pollard (11,250 shares at $71.92) and Director Michael Mcroberts (8,000 shares at $70.81).
• Rush beat the quarter with $0.81 EPS vs. $0.69 expected and $1.77B revenue, announced a quarterly dividend of $0.19 (annualized yield ~1.2%), and has an average analyst price target of $76.50 (market cap ≈ $5.08B, PE ~20.2).

Dimensional Fund Advisors LP cut its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,745,449 shares of the company's stock after selling 25,353 shares during the period. Dimensional Fund Advisors LP owned approximately 4.81% of Rush Enterprises worth $200,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in shares of Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company's stock worth $2,955,000 after acquiring an additional 208 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Rush Enterprises by 8.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company's stock worth $159,000 after purchasing an additional 219 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Rush Enterprises by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company's stock valued at $329,000 after purchasing an additional 237 shares during the last quarter. Corbyn Investment Management Inc. MD increased its holdings in Rush Enterprises by 0.9% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 28,058 shares of the company's stock valued at $1,445,000 after purchasing an additional 257 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in Rush Enterprises by 0.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company's stock valued at $4,489,000 after purchasing an additional 269 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the sale, the senior vice president owned 3,385 shares in the company, valued at $243,449.20. This represents a 76.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $70.81, for a total value of $566,480.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at $1,149,175.49. This represents a 33.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,750 shares of company stock valued at $1,698,950 in the last three months. 12.28% of the stock is owned by corporate insiders.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $66.03 on Monday. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $75.99. The firm has a market cap of $5.08 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. The company's 50 day moving average is $65.46 and its two-hundred day moving average is $57.74.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. On average, research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 3rd. Rush Enterprises's payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

RUSHA has been the topic of a number of research reports. Stephens restated an "overweight" rating and set a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. UBS Group reiterated a "neutral" rating and issued a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Zacks Research upgraded Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen raised Rush Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $76.50.

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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