American Century Companies Inc. Boosts Stock Position in Rush Enterprises, Inc. $RUSHA

American Century Companies Inc. lifted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 423.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,259 shares of the company’s stock after purchasing an additional 106,991 shares during the quarter. American Century Companies Inc. owned 0.17% of Rush Enterprises worth $7,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Rush Enterprises by 82.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after purchasing an additional 217 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Rush Enterprises by 9.7% during the 1st quarter. Russell Investments Group Ltd. now owns 108,045 shares of the company’s stock valued at $5,771,000 after acquiring an additional 9,598 shares during the period. HighTower Advisors LLC boosted its holdings in Rush Enterprises by 10.8% during the 1st quarter. HighTower Advisors LLC now owns 4,741 shares of the company’s stock valued at $253,000 after acquiring an additional 463 shares during the period. Public Sector Pension Investment Board boosted its holdings in Rush Enterprises by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 197,657 shares of the company’s stock valued at $10,557,000 after acquiring an additional 42,336 shares during the period. Finally, Nuveen LLC purchased a new stake in Rush Enterprises during the 1st quarter valued at about $9,667,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RUSHA has been the subject of several analyst reports. Stephens restated an “overweight” rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $61.00.

Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 6,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the transaction, the director owned 15,771 shares of the company’s stock, valued at approximately $861,727.44. This represents a 27.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares of the company’s stock, valued at $716,197.50. This represents a 26.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,480 shares of company stock valued at $862,104. Corporate insiders own 12.28% of the company’s stock.

Rush Enterprises Trading Up 0.8%

RUSHA opened at $58.67 on Thursday. The business has a 50 day simple moving average of $54.25 and a two-hundred day simple moving average of $53.36. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. Rush Enterprises, Inc. has a one year low of $46.30 and a one year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.18. Rush Enterprises’s dividend payout ratio is currently 21.65%.

Rush Enterprises Company 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.