Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 678.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,602 shares of the company’s stock after purchasing an additional 113,831 shares during the quarter. Edgestream Partners L.P. owned 0.17% of Rush Enterprises worth $5,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Rush Enterprises in the first quarter worth $612,000. Principal Financial Group Inc. raised its holdings in Rush Enterprises by 1,544.7% in the fourth quarter. Principal Financial Group Inc. now owns 336,876 shares of the company’s stock valued at $16,945,000 after acquiring an additional 316,393 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Rush Enterprises during the 1st quarter valued at $625,000. Finally, Wasatch Advisors LP grew its holdings in Rush Enterprises by 27.6% during the 4th quarter. Wasatch Advisors LP now owns 412,335 shares of the company’s stock worth $20,740,000 after acquiring an additional 89,184 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rush Enterprises

In other news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.72, for a total transaction of $634,000.00. Following the sale, the chief operating officer now directly owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rush Enterprises news, CEO William M. Rusty Rush sold 40,000 shares of the business’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 of the company’s stock, valued at approximately $9,371,226.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Mcroberts sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $771,958.40. The disclosure for this sale can be found here. Insiders sold a total of 64,875 shares of company stock worth $3,422,554 over the last ninety days. Company insiders own 12.53% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $50.68 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. Rush Enterprises, Inc. has a twelve month low of $34.68 and a twelve month high of $56.64. The business has a 50 day simple moving average of $49.87 and a 200-day simple moving average of $47.70.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 31st. The company reported $0.97 earnings per share for the quarter, beating 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 firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.44 earnings per share for the current year.

Rush Enterprises Increases Dividend

The firm also recently announced 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 was Tuesday, August 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analyst Weigh In

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

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.