Rush Enterprises, Inc. (NASDAQ:RUSHA) Shareholders to Collect $0.14 Quarterly Dividend

Rush Enterprises, Inc. (NASDAQ:RUSHA) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.14 per share on Thursday, December 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, November 11th.

Rush Enterprises has increased its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Rush Enterprises has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Rush Enterprises to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 19.5%.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $45.48 on Wednesday. The business has a 50 day moving average of $48.03 and a 200-day moving average of $36.00. The company has a market capitalization of $5.31 billion, a P/E ratio of 20.55 and a beta of 0.92. Rush Enterprises has a 1 year low of $30.45 and a 1 year high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.05 billion. Equities analysts anticipate that Rush Enterprises will post 2.43 EPS for the current year.

Insider Buying and Selling at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 5,400 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.02, for a total transaction of $194,520.00. Following the completion of the sale, the senior vice president directly owned 28,327 shares of the company’s stock, valued at $1,020,401.49. The trade was a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven L. Keller sold 46,525 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the completion of the sale, the chief financial officer owned 189,841 shares in the company, valued at $6,811,495.08. This represents a 19.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 252,561 shares of company stock worth $9,092,298. Corporate insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Rush Enterprises by 4.1% in the second quarter. State Street Corp now owns 2,430,986 shares of the company’s stock valued at $177,426,000 after purchasing an additional 96,418 shares in the last quarter. Jennison Associates LLC grew its holdings in Rush Enterprises by 166.4% during the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Rush Enterprises by 83.9% during the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after buying an additional 330,553 shares in the last quarter. Bank of America Corp DE raised its position in Rush Enterprises by 9.5% in the 1st quarter. Bank of America Corp DE now owns 566,287 shares of the company’s stock valued at $37,437,000 after buying an additional 49,009 shares during the last quarter. Finally, EULAV Asset Management raised its position in Rush Enterprises by 59.7% in the 3rd quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock valued at $27,856,000 after buying an additional 227,352 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.