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. grew its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,045 shares of the company's stock after purchasing an additional 9,598 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Rush Enterprises worth $5,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RUSHA. Jennison Associates LLC lifted its holdings in shares of 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 buying an additional 373,531 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Rush Enterprises during the 4th quarter valued at $10,628,000. Nuveen LLC bought a new position in shares of Rush Enterprises during the 1st quarter valued at $9,667,000. Millennium Management LLC lifted its holdings in shares of Rush Enterprises by 116.5% during the 4th quarter. Millennium Management LLC now owns 299,038 shares of the company's stock valued at $16,384,000 after buying an additional 160,922 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Rush Enterprises by 208.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 130,233 shares of the company's stock valued at $7,135,000 after buying an additional 87,952 shares during the period. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Trading Down 0.7%

NASDAQ:RUSHA opened at $56.42 on Thursday. Rush Enterprises, Inc. has a one year low of $46.30 and a one year 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 firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.60 and a beta of 0.85. The business has a fifty day moving average price of $53.45 and a 200-day moving average price of $53.44.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Sell-side analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, August 12th. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio (DPR) is currently 21.65%.

Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 6,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $54.64, for a total transaction of $327,840.00. Following the completion of the transaction, the director owned 15,771 shares in the company, valued at $861,727.44. This trade represents a 27.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jason Wilder sold 4,980 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares of the company's stock, valued at approximately $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens reissued 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 MarketBeat, the company presently 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.

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