Russell Investments Group Ltd. Acquires 9,598 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Russell Investments Group Ltd. increased its stake in Rush Enterprises by 9.7% during Q1, owning 108,045 shares valued at approximately $5.77 million.
• Rush Enterprises recently declared a quarterly dividend of $0.19 per share, increasing from the previous $0.18, resulting in an annual yield of 1.3%.
• The company reported Q2 earnings of $0.90 per share, surpassing expectations and achieving revenue of $1.93 billion, exceeding analyst estimates of $1.89 billion.

Russell Investments Group Ltd. boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,045 shares of the company's stock after purchasing an additional 9,598 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of Rush Enterprises worth $5,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after purchasing an additional 288 shares in the last quarter. Wambolt & Associates LLC raised its holdings in shares of Rush Enterprises by 1.5% in the 1st quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock worth $1,223,000 after purchasing an additional 317 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Rush Enterprises by 10.8% in the 1st quarter. HighTower Advisors LLC now owns 4,741 shares of the company's stock worth $253,000 after purchasing an additional 463 shares in the last quarter. Denali Advisors LLC raised its holdings in shares of Rush Enterprises by 0.4% in the 1st quarter. Denali Advisors LLC now owns 119,929 shares of the company's stock worth $6,405,000 after purchasing an additional 464 shares in the last quarter. Finally, Savvy Advisors Inc. raised its holdings in shares of Rush Enterprises by 15.0% in the 1st quarter. Savvy Advisors Inc. now owns 4,529 shares of the company's stock worth $242,000 after purchasing an additional 592 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Up 0.0%

RUSHA traded up $0.01 on Tuesday, reaching $58.19. 247,092 shares of the company traded hands, compared to its average volume of 381,151. The stock's 50 day moving average price is $54.07 and its 200-day moving average price is $53.32. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 1.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, beating 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. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is a boost 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 payout ratio is presently 21.65%.

Analyst Upgrades and Downgrades

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

Insider Activity at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the transaction, the senior vice president directly owned 12,510 shares of the company's stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,480 shares of company stock valued at $862,104. Corporate insiders own 12.28% of the company's stock.

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.