Wellington Management Group LLP Sells 1,041,668 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Wellington Management Group LLP cut its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 16.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,409,616 shares of the company's stock after selling 1,041,668 shares during the quarter. Wellington Management Group LLP owned 6.83% of Rush Enterprises worth $296,393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Rush Enterprises by 14.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 716,741 shares of the company's stock valued at $37,865,000 after buying an additional 90,537 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Rush Enterprises by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 69,018 shares of the company's stock valued at $3,646,000 after acquiring an additional 33,397 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Rush Enterprises in the 3rd quarter valued at about $685,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Rush Enterprises in the third quarter worth approximately $137,000. Finally, Janus Henderson Group PLC increased its stake in Rush Enterprises by 148.1% in the 3rd quarter. Janus Henderson Group PLC now owns 308,204 shares of the company's stock valued at $16,282,000 after buying an additional 183,965 shares during the period. 84.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Michael Mcroberts sold 4,000 shares of Rush Enterprises stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the transaction, the director now directly owns 15,771 shares in the company, valued at approximately $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jody Pollard sold 11,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the completion of the sale, the senior vice president now directly owns 3,117 shares in the company, valued at $175,892.31. This trade represents a 78.30 % decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by insiders.

Rush Enterprises Stock Down 2.6 %

NASDAQ:RUSHA traded down $1.36 during mid-day trading on Friday, reaching $50.36. The stock had a trading volume of 857,691 shares, compared to its average volume of 348,047. The stock has a market cap of $3.99 billion, a P/E ratio of 13.50, a PEG ratio of 1.04 and a beta of 0.96. The business's 50 day moving average is $56.94 and its 200 day moving average is $56.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.09. The business had revenue of $2.01 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 14.76%. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. Rush Enterprises's dividend payout ratio (DPR) is presently 19.30%.

Wall Street Analyst Weigh In

Separately, Stephens reiterated an "overweight" rating and set a $69.00 price objective on shares of Rush Enterprises in a report on Wednesday, February 19th.

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.