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

A number of other large investors also recently made changes to their positions in RUSHA. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rush Enterprises by 6.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock valued at $69,552,000 after buying an additional 79,499 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Rush Enterprises by 73.3% in 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 in the last quarter. Northern Trust Corp grew its stake in shares of Rush Enterprises by 12.0% in the 1st quarter. Northern Trust Corp now owns 879,554 shares of the company's stock valued at $46,977,000 after buying an additional 94,271 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Rush Enterprises by 2.3% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 807,290 shares of the company's stock valued at $43,117,000 after buying an additional 18,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Rush Enterprises by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 750,974 shares of the company's stock valued at $40,110,000 after buying an additional 7,979 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company's stock.

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 6,000 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 15,771 shares in the company, valued at approximately $861,727.44. This trade represents a 27.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jason Wilder sold 4,980 shares of the firm'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 completion of the sale, the chief operating officer owned 79,692 shares of the company's stock, valued at approximately $4,426,890.60. This trade represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RUSHA. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $61.00.

Rush Enterprises Stock Performance

Shares of RUSHA traded up $2.66 during mid-day trading on Friday, hitting $58.90. The company's stock had a trading volume of 407,056 shares, compared to its average volume of 376,713. 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 quick ratio of 0.32 and a current ratio of 1.39. The firm has a market capitalization of $4.58 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The stock's 50-day moving average is $53.73 and its two-hundred day moving average is $53.41.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 12th. Rush Enterprises's dividend payout ratio is currently 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.