Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,368 shares of the company’s stock after selling 2,887 shares during the period. ProShare Advisors LLC’s holdings in Rush Enterprises were worth $392,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC boosted its stake in shares of Rush Enterprises by 239.1% in the first quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock worth $42,515,000 after buying an additional 560,138 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Rush Enterprises by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock valued at $369,024,000 after purchasing an additional 420,978 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Rush Enterprises by 25.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 984,492 shares of the company’s stock valued at $52,689,000 after purchasing an additional 198,240 shares during the period. Wellington Management Group LLP lifted its stake in shares of Rush Enterprises by 2.6% in 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 during the period. Finally, Edgestream Partners L.P. boosted its holdings in Rush Enterprises by 678.7% during the second quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock worth $5,468,000 after buying an additional 113,831 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens initiated coverage on shares of Rush Enterprises in a report on Monday, July 8th. They issued an “overweight” rating for the company.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $51.90 on Wednesday. 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 12-month low of $34.68 and a 12-month high of $56.64. The business’s 50 day moving average is $51.24 and its two-hundred day moving average is $48.02. The company has a market capitalization of $4.09 billion, a P/E ratio of 13.12, a P/E/G ratio of 2.01 and a beta of 1.01.

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. The company had revenue of $2.03 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. Analysts expect that Rush Enterprises, Inc. will post 3.44 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.39%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, August 13th. Rush Enterprises’s payout ratio is presently 18.20%.

Insiders Place Their Bets

In related news, CEO William M. Rusty Rush sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rush Enterprises news, 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 value of $634,000.00. Following the transaction, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The transaction was disclosed in a 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 business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the transaction, 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 three months, insiders sold 64,875 shares of company stock worth $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.