Rush Enterprises, Inc. $RUSHA Holdings Cut by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Rush Enterprises by 4.1% during the first quarter, holding approximately 8.41% of the company's stock, valued at $355.8 million after selling 282,740 shares.
• Insider sales include COO Jason Wilder selling 4,980 shares and Director Michael Mcroberts selling 6,000 shares, resulting in significant decreases in their ownership percentages.
• Rush Enterprises announced an increase in its quarterly dividend from $0.18 to $0.19 per share, reflecting a 1.3% dividend yield, with a payout ratio of 21.65%.

Vanguard Group Inc. decreased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,661,376 shares of the company's stock after selling 282,740 shares during the period. Vanguard Group Inc. owned approximately 8.41% of Rush Enterprises worth $355,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Rush Enterprises by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,365 shares of the company's stock valued at $349,000 after acquiring an additional 202 shares in the last quarter. GAMMA Investing LLC lifted its stake in Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after purchasing an additional 288 shares during the last quarter. Denali Advisors LLC lifted its stake in Rush Enterprises by 0.4% during the first quarter. Denali Advisors LLC now owns 119,929 shares of the company's stock valued at $6,405,000 after purchasing an additional 464 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Rush Enterprises by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 33,792 shares of the company's stock valued at $1,805,000 after purchasing an additional 607 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after purchasing an additional 616 shares during the last quarter. Institutional investors own 84.43% of the company's stock.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the sale, the chief operating officer owned 79,692 shares in the company, valued at $4,426,890.60. This represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $327,840.00. Following the completion of the sale, the director owned 15,771 shares of the company's stock, valued at approximately $861,727.44. The trade was a 27.56% decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by corporate insiders.

Rush Enterprises Trading Down 0.3%

Shares of NASDAQ:RUSHA traded down $0.18 during mid-day trading on Thursday, hitting $56.24. The stock had a trading volume of 257,262 shares, compared to its average volume of 387,184. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The company has a market cap of $4.38 billion, a PE ratio of 16.02, a P/E/G ratio of 1.59 and a beta of 0.85. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43. The company's 50 day moving average is $53.55 and its 200-day moving average is $53.42.

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

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 12th will be given a $0.19 dividend. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. Rush Enterprises's payout ratio is currently 21.65%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RUSHA. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Rush Enterprises has an average rating of "Buy" and an average target price 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.