Beverly Hills Private Wealth LLC Increases Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Beverly Hills Private Wealth LLC raised its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 35.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,533 shares of the company’s stock after purchasing an additional 5,875 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Rush Enterprises were worth $943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RUSHA. Vanguard Group Inc. boosted its position in Rush Enterprises by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock worth $369,024,000 after purchasing an additional 420,978 shares during the period. UniSuper Management Pty Ltd acquired a new position in Rush Enterprises during the 1st quarter worth approximately $612,000. Edgestream Partners L.P. purchased a new position in Rush Enterprises in the 1st quarter worth approximately $898,000. Principal Financial Group Inc. raised its stake in shares of Rush Enterprises by 1,544.7% during the fourth quarter. Principal Financial Group Inc. now owns 336,876 shares of the company’s stock valued at $16,945,000 after purchasing an additional 316,393 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Rush Enterprises during the first quarter worth $625,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Trading Down 0.0 %

NASDAQ RUSHA opened at $47.72 on Thursday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.28. Rush Enterprises, Inc. has a 12 month low of $34.68 and a 12 month high of $56.64. The company’s fifty day moving average price is $49.36 and its two-hundred day moving average price is $47.65.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.77 by $0.20. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.28 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, August 13th. Rush Enterprises’s payout ratio is 18.20%.

Analyst Upgrades and Downgrades

Separately, Stephens initiated coverage on shares of Rush Enterprises in a research note on Monday, July 8th. They set an “overweight” rating on the stock.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 40,000 shares of Rush Enterprises stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares of the company’s stock, valued at $9,371,226.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the completion of the transaction, the senior vice president now owns 534 shares in the company, valued at approximately $27,597.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,875 shares of company stock valued at $3,422,554. Corporate insiders own 12.53% of the company’s stock.

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.