Bridges Investment Management Inc. Takes $478,000 Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Bridges Investment Management Inc. bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,418 shares of the company's stock, valued at approximately $478,000.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC grew its stake in 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 purchasing an additional 560,138 shares in the last quarter. Vanguard Group Inc. grew its position 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 worth $369,024,000 after buying an additional 420,978 shares in the last quarter. Norges Bank purchased a new position in shares of Rush Enterprises during the fourth quarter valued at $20,954,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Rush Enterprises by 25.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 984,492 shares of the company's stock valued at $52,689,000 after acquiring an additional 198,240 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Rush Enterprises by 2.6% in the fourth 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 period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 7,875 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $51.25, for a total transaction of $403,593.75. Following the sale, the senior vice president now directly owns 12,238 shares of the company's stock, valued at $627,197.50. The sale 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 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 completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 7,875 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,238 shares in the company, valued at approximately $627,197.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,875 shares of company stock valued at $3,422,554. 12.53% of the stock is owned by company insiders.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA traded down $0.59 during mid-day trading on Friday, hitting $52.56. The stock had a trading volume of 1,129,884 shares, compared to its average volume of 349,959. The company has a 50 day moving average of $50.59 and a two-hundred day moving average of $47.80. Rush Enterprises, Inc. has a twelve month low of $34.68 and a twelve month high of $56.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40. The firm has a market cap of $4.13 billion, a PE ratio of 13.27, a PEG ratio of 1.92 and a beta of 1.01.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.20. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. Research analysts predict that Rush Enterprises, Inc. will post 3.44 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th were given a dividend of $0.18 per share. This is a boost from Rush Enterprises's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, August 13th. Rush Enterprises's dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analyst Weigh In

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

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.