Private Management Group Inc. Has $14.40 Million Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Private Management Group Inc. lowered its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 343,866 shares of the company’s stock after selling 1,316 shares during the quarter. Private Management Group Inc.’s holdings in Rush Enterprises were worth $14,398,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Rush Enterprises by 4,929.9% in the 4th quarter. International Assets Investment Management LLC now owns 18,007 shares of the company’s stock valued at $906,000 after purchasing an additional 17,649 shares during the period. Amalgamated Bank grew its position in Rush Enterprises by 278.9% in the fourth quarter. Amalgamated Bank now owns 23,142 shares of the company’s stock valued at $1,164,000 after acquiring an additional 17,035 shares during the period. Charles Schwab Investment Management Inc. grew its position in Rush Enterprises by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 981,385 shares of the company’s stock valued at $49,364,000 after acquiring an additional 15,731 shares during the period. Johnson Investment Counsel Inc. acquired a new position in Rush Enterprises during the fourth quarter worth $2,188,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rush Enterprises by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,765,604 shares of the company’s stock valued at $239,704,000 after acquiring an additional 32,091 shares during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 40,000 shares of the 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 sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares in the company, valued at approximately $9,371,226.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 15,220 shares in the company, valued at $771,958.40. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock valued at $3,422,554 over the last ninety days. 12.53% of the stock is owned by insiders.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $48.36 on Monday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.92 and a beta of 1.01. The firm’s 50-day moving average price is $48.98 and its two-hundred day moving average price is $47.62. 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 1-year low of $34.68 and a 1-year high of $56.64.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.20. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $1.17 EPS. Rush Enterprises’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that Rush Enterprises, Inc. will post 3.28 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.49%. Rush Enterprises’s dividend payout ratio (DPR) is 18.20%.

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.