Russell Investments Group Ltd. Acquires 9,598 Shares of Rush Enterprises, Inc. $RUSHA

Russell Investments Group Ltd. boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 9.7% in the 1st quarter, Holdings Channel reports. The firm owned 108,045 shares of the company’s stock after buying an additional 9,598 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rush Enterprises were worth $5,771,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RUSHA. Jennison Associates LLC lifted its stake in Rush Enterprises by 73.3% in the first quarter. Jennison Associates LLC now owns 882,911 shares of the company’s stock worth $47,156,000 after purchasing an additional 373,531 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Rush Enterprises in the fourth quarter worth about $10,628,000. Nuveen LLC bought a new stake in Rush Enterprises in the first quarter worth about $9,667,000. Millennium Management LLC lifted its stake in Rush Enterprises by 116.5% in the fourth quarter. Millennium Management LLC now owns 299,038 shares of the company’s stock worth $16,384,000 after purchasing an additional 160,922 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Rush Enterprises by 208.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 130,233 shares of the company’s stock worth $7,135,000 after purchasing an additional 87,952 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $56.42 on Thursday. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.60 and a beta of 0.85. The company’s 50 day moving average is $53.45 and its 200 day moving average is $53.44. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates 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 anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.3%. Rush Enterprises’s dividend payout ratio is 21.65%.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises stock in a transaction on Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the transaction, the director directly owned 15,771 shares of the company’s stock, valued at approximately $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction 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 transaction, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

RUSHA has been the subject of several analyst reports. Stephens reissued an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.