Cwm LLC Sells 1,321 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Cwm LLC cut its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.6% in the 3rd quarter, Holdings Channel reports. The firm owned 22,452 shares of the company’s stock after selling 1,321 shares during the period. Cwm LLC’s holdings in Rush Enterprises were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. William Blair Investment Management LLC increased its position in shares of Rush Enterprises by 239.1% during the first quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock valued at $42,515,000 after buying an additional 560,138 shares during the period. 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 valued at $369,024,000 after acquiring an additional 420,978 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rush Enterprises by 25.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 984,492 shares of the company’s stock worth $52,689,000 after acquiring an additional 198,240 shares during the period. Edgestream Partners L.P. raised its position in shares of Rush Enterprises by 678.7% in the 2nd quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock worth $5,468,000 after acquiring an additional 113,831 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in shares of Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after purchasing an additional 100,318 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Rush Enterprises Stock Up 3.1 %

Shares of Rush Enterprises stock opened at $52.75 on Thursday. Rush Enterprises, Inc. has a 1 year low of $34.68 and a 1 year high of $56.64. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.91 and a beta of 1.01. The company has a 50-day moving average of $51.35 and a 200 day moving average of $47.99. 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 (NASDAQ:RUSHA) last announced its 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. 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business 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. This represents a $0.72 annualized dividend and a yield of 1.36%. 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 18.18%.

Insider Activity

In related news, SVP Michael L. Goldstone sold 7,875 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $51.25, for a total value of $403,593.75. Following the transaction, the senior vice president now owns 12,238 shares in the company, valued at $627,197.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rush Enterprises news, SVP Michael L. Goldstone sold 7,875 shares of Rush Enterprises stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $51.25, for a total value of $403,593.75. Following the completion of the transaction, the senior vice president now directly owns 12,238 shares of the company’s stock, valued at approximately $627,197.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason Wilder sold 4,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total transaction of $232,560.00. Following the sale, the senior vice president now owns 534 shares in the company, valued at approximately $27,597.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock worth $3,422,554 over the last three months. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises Company 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.