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

Bridges Investment Management Inc. purchased a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,418 shares of the company’s stock, valued at approximately $478,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Rush Enterprises by 352.2% during the 1st quarter. GAMMA Investing LLC now owns 520 shares of the company’s stock worth $28,000 after buying an additional 405 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Rush Enterprises by 70.3% in the first quarter. Hexagon Capital Partners LLC now owns 695 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the period. Strategic Financial Concepts LLC bought a new position in Rush Enterprises during the 2nd quarter worth about $41,000. Neo Ivy Capital Management purchased a new position in Rush Enterprises during the 4th quarter valued at about $43,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Rush Enterprises in the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Insider Activity at Rush Enterprises

In related news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction that occurred 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 directly owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Michael Mcroberts sold 12,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael L. Goldstone sold 7,875 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $51.25, for a total value of $403,593.75. Following the completion of the transaction, the senior vice president now owns 12,238 shares of the company’s stock, valued at approximately $627,197.50. The disclosure for this sale can be found here. Insiders have sold 64,875 shares of company stock valued at $3,422,554 in the last ninety days. Corporate insiders own 12.53% of the company’s stock.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $52.56 on Friday. The company has a market capitalization of $4.13 billion, a PE ratio of 13.27, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a 50-day simple moving average of $50.59 and a two-hundred day simple moving average of $47.80. Rush Enterprises, Inc. has a one year low of $34.68 and a one year 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.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.20. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. Rush Enterprises’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. Research analysts expect that Rush Enterprises, Inc. will post 3.44 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on Rush Enterprises in a report on Monday, July 8th. They set 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.