Wellington Management Group LLP Lowers Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Wellington Management Group LLP lessened its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,451,284 shares of the company's stock after selling 133,536 shares during the quarter. Wellington Management Group LLP owned 8.19% of Rush Enterprises worth $340,821,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RUSHA. Hexagon Capital Partners LLC grew its holdings in shares of Rush Enterprises by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company's stock valued at $41,000 after acquiring an additional 287 shares in the last quarter. Arizona State Retirement System grew its stake in Rush Enterprises by 2.2% in the second quarter. Arizona State Retirement System now owns 17,296 shares of the company's stock valued at $724,000 after purchasing an additional 367 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Rush Enterprises by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company's stock worth $411,000 after purchasing an additional 370 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Rush Enterprises by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company's stock worth $1,477,000 after purchasing an additional 405 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company's stock valued at $42,000 after buying an additional 469 shares during the last quarter. Institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA traded up $0.23 on Friday, reaching $61.94. 217,160 shares of the company's stock were exchanged, compared to its average volume of 391,513. Rush Enterprises, Inc. has a twelve month low of $40.12 and a twelve month high of $65.15. The company has a fifty day moving average of $57.01 and a 200-day moving average of $50.92. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.35 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.96 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts predict that Rush Enterprises, Inc. will post 3.64 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises's payout ratio is 19.10%.

Insider Transactions at Rush Enterprises

In other news, CFO Steven L. Keller sold 14,625 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $4,876,852.50. This represents a 14.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the transaction, the chief executive officer now directly owns 174,154 shares of the company's stock, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,000 shares of company stock worth $11,167,173. Insiders own 12.53% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stephens lifted their price target on Rush Enterprises from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, November 1st.

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.