Wambolt & Associates LLC Boosts Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Wambolt & Associates LLC raised its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 24,412 shares of the company’s stock after buying an additional 1,557 shares during the period. Wambolt & Associates LLC’s holdings in Rush Enterprises were worth $1,006,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Rush Enterprises by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock worth $369,024,000 after acquiring an additional 420,978 shares during the last quarter. Wellington Management Group LLP increased its stake in Rush Enterprises by 2.6% during the 4th quarter. Wellington Management Group LLP now owns 6,354,756 shares of the company’s stock valued at $319,644,000 after purchasing an additional 161,679 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of Rush Enterprises by 10.1% during the second quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after buying an additional 100,318 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rush Enterprises by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock valued at $43,875,000 after buying an additional 63,413 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Rush Enterprises by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 981,385 shares of the company’s stock valued at $49,364,000 after acquiring an additional 15,731 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, 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 transaction of $2,152,400.00. Following the sale, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the completion of the sale, the chief operating officer now owns 15,220 shares of the company’s stock, valued at $771,958.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the transaction, the chief executive officer now directly 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 90 days, insiders have sold 64,875 shares of company stock worth $3,422,554. Corporate insiders own 12.53% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $47.72 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. Rush Enterprises, Inc. has a twelve month low of $34.68 and a twelve month high of $56.64. The company’s 50 day moving average is $49.36 and its 200 day moving average is $47.65. The company has a market cap of $3.76 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.77 by $0.20. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.28 EPS for the current year.

Rush Enterprises Increases Dividend

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

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.