Wellington Management Group LLP Decreases Position in Rush Enterprises, Inc. $RUSHA

Key Points

• Wellington Management Group LLP reduced its stake in Rush Enterprises by 5.4% during the first quarter, selling 292,038 shares, leaving it with approximately 6.46% ownership valued at $273.3 million.
• Several other institutional investors have adjusted their holdings, with Principal Financial Group increasing its stake by 2.7% and Bridges Investment Management Inc. increasing by 111.3% in the same period.
• Rush Enterprises has declared a quarterly dividend increase to $0.19, reflecting an annualized yield of 1.3%, set to be paid on September 12th.

Wellington Management Group LLP trimmed its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,117,578 shares of the company's stock after selling 292,038 shares during the quarter. Wellington Management Group LLP owned 6.46% of Rush Enterprises worth $273,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in Rush Enterprises by 82.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after acquiring an additional 217 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Rush Enterprises by 121.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after acquiring an additional 616 shares in the last quarter. GAMMA Investing LLC grew its position in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after acquiring an additional 288 shares in the last quarter. Sterling Capital Management LLC grew its position in Rush Enterprises by 833.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock valued at $107,000 after acquiring an additional 1,751 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Rush Enterprises in the 1st quarter valued at about $207,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RUSHA. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $61.00.

Insider Activity at Rush Enterprises

In related news, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction 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. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $54.64, for a total value of $327,840.00. Following 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 owned by insiders.

Rush Enterprises Stock Down 0.6%

Shares of Rush Enterprises stock traded down $0.33 on Monday, reaching $58.57. 46,154 shares of the company were exchanged, compared to its average volume of 419,245. Rush Enterprises, Inc. has a 1-year low of $46.30 and a 1-year high of $65.43. The company has a market cap of $4.56 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.66 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. The stock's 50 day moving average price is $53.73 and its 200-day moving average price is $53.31.

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, 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 the consensus estimate of $1.89 billion. As a group, equities analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.19 per share. 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 dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Rush Enterprises's dividend payout ratio is presently 21.65%.

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.