Victory Capital Management Inc. Reduces Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Victory Capital Management Inc. trimmed its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 15.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 122,879 shares of the company’s stock after selling 21,781 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of Rush Enterprises worth $6,492,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Rush Enterprises during the 3rd quarter valued at $421,000. Costello Asset Management INC purchased a new stake in Rush Enterprises during the 3rd quarter valued at $58,000. Essex Savings Bank purchased a new stake in Rush Enterprises during the 3rd quarter valued at $214,000. Verdence Capital Advisors LLC raised its stake in Rush Enterprises by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock valued at $411,000 after buying an additional 370 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Rush Enterprises by 3.7% during the 3rd quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock valued at $717,000 after buying an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Trading Up 1.1 %

Shares of Rush Enterprises stock opened at $60.00 on Friday. The company has a market capitalization of $4.74 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. The company has a fifty day moving average of $55.11 and a 200 day moving average of $49.77. Rush Enterprises, Inc. has a fifty-two week low of $38.43 and a fifty-two week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Insider Buying and Selling at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven L. Keller sold 43,875 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the completion of the transaction, the chief financial officer now directly owns 83,365 shares of the company’s stock, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $11,167,173 in the last 90 days. Insiders own 12.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens upped their price objective on Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

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.