Inspire Investing LLC Grows Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Inspire Investing LLC increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 24.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,371 shares of the company’s stock after purchasing an additional 1,662 shares during the quarter. Inspire Investing LLC’s holdings in Rush Enterprises were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in shares of Rush Enterprises by 53.4% in the 2nd quarter. Hsbc Holdings PLC now owns 11,222 shares of the company’s stock valued at $473,000 after purchasing an additional 3,905 shares during the period. Denali Advisors LLC raised its stake in Rush Enterprises by 42.9% during the second quarter. Denali Advisors LLC now owns 148,785 shares of the company’s stock valued at $6,230,000 after buying an additional 44,700 shares during the last quarter. Edgestream Partners L.P. raised its stake in Rush Enterprises by 678.7% during the second quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock valued at $5,468,000 after buying an additional 113,831 shares during the last quarter. Wambolt & Associates LLC raised its stake in Rush Enterprises by 6.8% during the second quarter. Wambolt & Associates LLC now owns 24,412 shares of the company’s stock valued at $1,006,000 after buying an additional 1,557 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC raised its stake in Rush Enterprises by 35.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 22,533 shares of the company’s stock valued at $943,000 after buying an additional 5,875 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens initiated coverage on Rush Enterprises in a research note on Monday, July 8th. They set an “overweight” rating for the company.

Insider Transactions at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 7,875 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at $627,197.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael Mcroberts sold 12,500 shares of Rush Enterprises stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.72, for a total transaction of $634,000.00. Following the sale, the chief operating officer now owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael L. Goldstone sold 7,875 shares of Rush Enterprises 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 sale, the senior vice president now directly owns 12,238 shares in the company, 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 over the last quarter. 12.53% of the stock is currently owned by company insiders.

Rush Enterprises Stock Down 0.3 %

RUSHA stock opened at $52.42 on Tuesday. Rush Enterprises, Inc. has a 1-year low of $34.68 and a 1-year high of $56.64. The business has a fifty day moving average price of $50.71 and a 200-day moving average price of $47.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market capitalization of $4.12 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.92 and a beta of 1.01.

Rush Enterprises (NASDAQ:RUSHA) last posted 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. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s dividend payout ratio (DPR) is 18.18%.

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.