Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331,983 shares of the company’s stock after selling 10,873 shares during the period. Principal Financial Group Inc.’s holdings in Rush Enterprises were worth $13,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Rush Enterprises by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock valued at $369,024,000 after buying an additional 420,978 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 worth $319,644,000 after acquiring an additional 161,679 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rush Enterprises by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,765,604 shares of the company’s stock worth $239,704,000 after purchasing an additional 32,091 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Rush Enterprises by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock valued at $43,875,000 after purchasing an additional 63,413 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 15,731 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $49.68 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01. The business has a 50-day moving average of $48.85 and a 200 day moving average of $47.58. Rush Enterprises, Inc. has a 12 month low of $34.68 and a 12 month high of $56.64.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.77 by $0.20. The business 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 business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. As a group, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.28 earnings per share for the current year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.45%. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s dividend payout ratio is currently 18.20%.

Insider Activity

In other Rush Enterprises news, SVP Jason Wilder sold 4,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Michael L. Goldstone sold 7,875 shares of the firm’s 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 in the company, valued at approximately $627,197.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the transaction, the senior vice president now owns 534 shares of the company’s stock, valued at approximately $27,597.12. The disclosure for this sale can be found here. Over the last three months, 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 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.