Vaughan Nelson Investment Management L.P. Has $53.10 Million Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its holdings in Rush Enterprises by 20.8%, bringing its total to 1,030,873 shares worth approximately $53.1 million.
• Rush Enterprises recently reported earnings per share of $0.90 for the last quarter, surpassing estimates, and had revenue of $1.93 billion.
• The company announced a quarterly dividend increase to $0.19 per share, reflecting a positive change and a dividend yield of 1.5%.

Vaughan Nelson Investment Management L.P. trimmed its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030,873 shares of the company's stock after selling 271,345 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 1.32% of Rush Enterprises worth $53,100,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming raised its stake in Rush Enterprises by 5.0% during the first quarter. State of Wyoming now owns 4,511 shares of the company's stock worth $241,000 after acquiring an additional 213 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock worth $26,000 after acquiring an additional 217 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Rush Enterprises by 26.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after acquiring an additional 227 shares in the last quarter. GAMMA Investing LLC raised 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 worth $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Wambolt & Associates LLC grew its holdings in shares of Rush Enterprises by 1.5% during the first quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock worth $1,223,000 after purchasing an additional 317 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $51.70 on Friday. 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 stock's fifty day moving average price is $56.33 and its two-hundred day moving average price is $53.27. Rush Enterprises, Inc. has a one year low of $47.06 and a one year high of $65.43. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.50 and a beta of 0.89.

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

Rush Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio is currently 21.65%.

Insider Activity

In other news, Director Michael Mcroberts sold 6,000 shares of the company's stock in a transaction 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 directly owned 15,771 shares in the company, valued at approximately $861,727.44. This represents a 27.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jason Wilder sold 4,980 shares of the company's stock in a transaction 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 sale, the chief operating officer 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RUSHA. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rush Enterprises in a report on Saturday, September 27th. Finally, Stephens reissued an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $61.00.

About Rush Enterprises

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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