Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael L. Goldstone Sells 7,875 Shares

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael L. Goldstone sold 7,875 shares of Rush Enterprises stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $51.25, for a total value of $403,593.75. Following the sale, the senior vice president now directly owns 12,238 shares of the company’s stock, valued at approximately $627,197.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $51.00 on Thursday. The stock has a market capitalization of $4.01 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.01. 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 1 year low of $34.68 and a 1 year high of $56.64. The firm has a 50 day moving average of $45.97 and a 200-day moving average of $46.98.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.17 EPS. As a group, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.6 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th will be given a dividend of $0.18 per share. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, August 13th. This represents a $0.72 annualized dividend and a yield of 1.41%. Rush Enterprises’s dividend payout ratio is 18.18%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds have recently added to or reduced their stakes in RUSHA. Caxton Associates LP bought a new position in shares of Rush Enterprises in the second quarter worth about $222,000. Public Sector Pension Investment Board increased its holdings in shares of Rush Enterprises by 7.8% in the second quarter. Public Sector Pension Investment Board now owns 136,159 shares of the company’s stock valued at $5,701,000 after purchasing an additional 9,899 shares in the last quarter. Sei Investments Co. raised its position in Rush Enterprises by 19.4% in the 2nd quarter. Sei Investments Co. now owns 117,070 shares of the company’s stock worth $4,902,000 after purchasing an additional 18,999 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in Rush Enterprises during the 2nd quarter worth $478,000. Finally, Canada Pension Plan Investment Board bought a new position in Rush Enterprises in the 2nd quarter valued at $121,000. Institutional investors own 84.43% 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.