Public Sector Pension Investment Board Grows Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Public Sector Pension Investment Board raised its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,159 shares of the company’s stock after purchasing an additional 9,899 shares during the quarter. Public Sector Pension Investment Board owned 0.17% of Rush Enterprises worth $5,701,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 420,978 shares during the period. UniSuper Management Pty Ltd purchased a new position in shares of Rush Enterprises in the first quarter worth $612,000. Edgestream Partners L.P. bought a new position in shares of Rush Enterprises during the first quarter worth $898,000. Janney Montgomery Scott LLC purchased a new position in Rush Enterprises during the first quarter valued at $625,000. Finally, Wasatch Advisors LP increased its holdings in Rush Enterprises by 27.6% in the 4th quarter. Wasatch Advisors LP now owns 412,335 shares of the company’s stock valued at $20,740,000 after acquiring an additional 89,184 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Down 0.8 %

Shares of RUSHA opened at $52.71 on Thursday. 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 $4.14 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. Rush Enterprises, Inc. has a 1 year low of $34.68 and a 1 year high of $56.64. The business’s 50 day simple moving average is $50.85 and its 200-day simple moving average is $47.90.

Rush Enterprises (NASDAQ:RUSHA) last released 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%. Rush Enterprises’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 13th. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Rush Enterprises’s dividend payout ratio is 18.18%.

Insider Transactions at Rush Enterprises

In related news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction 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 owns 15,220 shares in the company, valued at approximately $771,958.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William M. Rusty Rush sold 40,000 shares of the 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 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 SEC, which is available at this link. Also, COO Michael Mcroberts sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.72, for a total value of $634,000.00. Following the sale, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at $771,958.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,875 shares of company stock worth $3,422,554. 12.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.